RBA’s Harper: Would certainly be unhelpful if AUD/USD was back up over 0.70

Dhwani Mehta FXStreet

In an interview with Bloomberg on Friday, Reserve Bank of Australia (RBA) board member Ian Harper offered his take on the next policy action and Australian dollar.

Key quotes

“Government should come up with a "tapering arrangement" for its stimulus programs (these are due to end in September).”

“A sharp cut off would damage the recovery and potentially drive unemployment even higher.”

“Government should be able to develop a form of fiscal support other than the current JobKeeper subsidy.”

"It would certainly be unhelpful if the rate was back up over 70 cents, that's for sure."

"It might've been nicer if it was weaker for a little longer."

AUD/USD defends 0.6850

Despite Harper talking up the exchange rate value, AUD/USD is unperturbed and defends minor bids just above 0.6850.

Author

Dhwani Mehta

FXStreet

Residing in Mumbai (India), Dhwani is a Senior Analyst and Manager of the Asian session at FXStreet. She has over 10 years of experience in analyzing and covering the global financial markets, with specialization in Forex and commodities markets.

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