13 Feb 2015
AUD/USD: Steady in Asia around Stevens
FXStreet (Guatemala) - AUD/USD is steady on the last trading day in Asia with spot oscillating on 0.7740 having made a high of 0.7769 and a low of 0.7724.
AUD/USD was surprisingly stable around Stevens' speech earlier and the reaction was an initial offer of 10 pips to the downside and buyers came in to steady the pair and squeezed shorts up to the aforementioned highs.
Stevens said that monetary policy still has the capacity to give additional support to the economy and without making any commitments, he said that the bank's forecasts assume a lower path for interest rates. Stevens also said that the Aussie is likely to fall further.
AUD/USD was surprisingly stable around Stevens' speech earlier and the reaction was an initial offer of 10 pips to the downside and buyers came in to steady the pair and squeezed shorts up to the aforementioned highs.
Stevens said that monetary policy still has the capacity to give additional support to the economy and without making any commitments, he said that the bank's forecasts assume a lower path for interest rates. Stevens also said that the Aussie is likely to fall further.