AUD under constant pressure - BBH

Sandeep Kanihama FXStreet Contributor

The Australian dollar posted a bullish key reversal yesterday, but the lack of follow-through buying today is disappointing, according to analysts at BBH.

Key Quotes

“Construction jumped 15.7% in Q3 after an upwardly revised 9.8% (from 9.3%) in Q2. Even this did not help. The construction report was flattered by the LNG facility being imported. The weakness in renovations seemed to local investors more important than the 6% rise in public infrastructure.”

“The Australian dollar met offers in front of $0.7600 and returned to $0.7555 before finding a bid. The recent drip lower in Australia's two-year yield and increase in the US means that the Australia's rate is poised to fall below the US for the first time since 2000.”

Author

Sandeep Kanihama

FXStreet Contributor

Sandeep Kanihama is an FX Editor and Analyst with FXstreet having principally focus area on Asia and European markets with commodity, currency and equities coverage. He is stationed in the Indian capital city of Delhi.

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