Australia PM adds to RBA intervention momentum
The Reserve Bank of Australia (RBA) has sufficient reserves to "intervene prudently and appropriately" in foreign exchange markets, according to Tony Abbott, the country's prime minister.
The government transferred A$8.8 billion ($7.9bn) to the RBA in October, which Abbott said ensures the central bank is suitably equipped to "ensure that the Australian dollar is at the best possible level".
RBA governor Glenn Stevens has openly described the currency as "uncomfortably high" and, in a speech
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