RBA monetary policy statement says currency is too strong
The Reserve Bank of Australia's latest quarterly statement on monetary policy says the country's currency is too strong for the economy to be able to achieve balanced growth, though it remains 6% cheaper on a trade-weighted basis than it was at the time of the May statement.
After depreciating between May and early August, the statement said the Australian dollar appreciated following a "reassessment by markets of the likely path of US monetary policy" after the Federal Reserve failed to taper
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