Original article by David Rogers
The Australian – Page: 17 & 27 : 1-Nov-19
The Australian dollar reached a three-month high of $US0.693 in local trading on 31 October, in the wake of the US Federal Reserve’s third interest rate cut in 2019. Financial markets have in turn downgraded the chances of the Reserve Bank of Australia reducing the cash rate again before the end of the year. The Australian dollar gained 3.3 per cent in October, including a gain of 1.6 per cent in the last five trading sessions. RBA board member Ian Harper argues that a strong currency is not desirable at present, given weak economic growth and less than full employment.
UNITED STATES. FEDERAL RESERVE BOARD, RESERVE BANK OF AUSTRALIA, AMP CAPITAL INVESTORS LIMITED, MORGAN STANLEY AUSTRALIA LIMITED