Reserve Bank of Australia (RBA) Governor Phillip Lowe said that intervention to lower the AUD exchange rate would not be a successful strategy.
He added that it would need huge amounts of intervention to push the A$ down, doubt we can do that.
Lowe continues to testify before the House of Representatives' Standing Committee on Economics.
- RBA Lowe: Would like the AUD lower, but it is not overvalued
- AUD/USD stays pressured below 0.7150 after China data
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