27 Jun 2013
Flash: Muted impact on AUD amid change in Prime Minister – UBS
FXstreet.com (Córdoba) - The AUD/USD has shown no reaction to change in Australian Prime Minister.
Kevin Rudd has regained his former position as Australia's Prime Minister, after he ousted Julia Gillard in an internal party vote on Wednesday. "However, this might do little to change the outcome of the general elections in September, where opinion polls are suggesting a clear victory for the opposition party", says the UBS analyst team.
"Nonetheless, we do not expect such political developments to dramatically improve the sentiment on the AUD, and still favor reducing AUD exposure on rebounds towards 0.94 versus the USD", UBS adds.
Kevin Rudd has regained his former position as Australia's Prime Minister, after he ousted Julia Gillard in an internal party vote on Wednesday. "However, this might do little to change the outcome of the general elections in September, where opinion polls are suggesting a clear victory for the opposition party", says the UBS analyst team.
"Nonetheless, we do not expect such political developments to dramatically improve the sentiment on the AUD, and still favor reducing AUD exposure on rebounds towards 0.94 versus the USD", UBS adds.