No recipe in place for further aggressive AUD falls - Westpac

FXStreet (Bali) - Rob Rennie, head of currency research at Westpac, thinks that there is no recipe in place for a further aggressive falls in the Aussie, although he recognizes that there are some risks in the short term.

Key Quotes (short term risks)

Global liquidity can contract in the short term.

Asian central bank reserves are falling modestly as the US$ strengthens.

Financial markets are transfixed by the end of the asset purchase program in the US.

The ECB is clearly having 'teething' issues with executing the TLTRO/ ABSPP and CBPP3 programs.