Cheang Ming | @cheangming CNBC Singapore
Watching the dollar
The Australian dollar edged down to trade at $0.7644 at 8:16 a.m. HK/SIN compared to Friday’s close of $0.7661. The currency had been pressured following the release of the Reserve Bank of Australia’s quarterly statement last week.
“[U]nless there is massive surprise in the data or an abrupt shift in RBA rhetoric, who appear sidelined indefinitely on tepid growth and apathetic inflation figures, the Aussie should remain pressured,” Stephen Innes, Asia Pacific head of trading at OANDA, said in a morning note.
The currency’s slide on Monday also came after news of yet another member of parliament, Liberal Party MP John Alexander, resigning on Saturday as he was not certain that he only had Australian citizenship. The Australian constitution blocks dual nationals from parliament.