Aussie falls on central bank comments
Currencies Direct November 5th 2013 - < 1 minute read
The Australian dollar slid after the governor of the country's central bank said the currency was "uncomfortably high", but refrained from lowering borrowing costs at a policy meeting today (November 5th).
AUD/USD slipped 0.4 per cent to 0.9473 following the comments from Reserve Bank of Australia (RBA) governor Glenn Stevens.
"The Australian dollar, while below its level earlier in the year, is still uncomfortably high," Stevens said in a statement.
"A lower level of the exchange rate is likely to be needed to achieve balanced growth in the economy."
Elsewhere the euro slid further against the dollar and the yen before European Central Bank president Mario Draghi speaks today ahead of a policy meeting later in the week.
EUR/USD fell 0.1 per cent to 1.3488 after yesterday touching 1.3442, the pair's lowest since mid-September. EUR/GBP slid a further 0.20 per cent to 0.8449.
Sterling was little changed against the dollar, with GBP/USD easing to 1.5965 ahead of a report expected to show the UK services sector expanded for a tenth straight month in October.
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Currencies Direct