Overreaching Aussie ?

It shot up to a two-year high of US79.89¢ before deputy governor Guy Debelle on Friday spoiled the party by hosing down expectations of a nearing rate rise, saying the central bank did not intend to signal anything by discussing the neutral rate.

“Debelle burst the Aussie dollar bulls’ balloon, leaning heavy against the markets inference of the neutral nominal rate comment in an attempt to jawbone the currency lower,” OANDA trader Stephen Innes said

 

AFR

 

 

This article is for general information purposes only. It is not investment advice or a solution to buy or sell securities. Opinions are the authors; not necessarily that of OANDA Corporation or any of its affiliates, subsidiaries, officers or directors. Leveraged trading is high risk and not suitable for all. You could lose all of your deposited funds.

Stephen Innes

Stephen Innes

Senior Currency Trader and Analyst at OANDA
Stephen has over 25 years of experience in the financial markets and specializes in Asian currencies at OANDA. After having started his trading career with NatWest Bank, he is currently based in Singapore as a Senior Currency Trader and Analyst with OANDA, focusing on the movement of the Aussie Dollar and ASEAN Currencies. Stephen has an extensive trading experience in Interest Rate Futures, Money Markets and Precious Metals. Prior to joining OANDA, he worked with organizations like Cambridge Mercantile, Nat West, Garvin Guy Butler, Sumitomo Mitsui Banking Corporation. Stephen was born in Glasgow, Scotland, and holds a Degree in Economics from the University of Western Ontario.
Stephen Innes
Stephen Innes

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