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Feb 05 - 09:48 AM

AUD: Upward Momentum Reinforced By RBA Gov Lowe Casting Doubts On Rate Cut Expectations - MUFG

By eFXdata  —  Feb 05 - 08:38 AM

MUFG Research discusses its reaction to this week's speech by RBA's Governor Lowe Speech. 

"The Australian dollar’s upward momentum was reinforced overnight following further less dovish comments from RBA Governor Lowe which have raised doubts over whether further rate cuts will be delivered," MUFG notes.  

"Overall, the comments from Governor Lowe suggest that the RBA is edging towards dropping their easing bias. The reduced risk of further imminent RBA easing should help to ease downside risks for the Aussie, although the main risk right now is the size of the negative hit to growth in China from coronavirus disruption which remains uncertain," MUFG adds. 

Source:
MUFG Research/Market Commentary

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