Bloomberg reports that the Reserve Bank of Australia intervened today and were looking to Buy Australian Dollars, following a similar intervention on Friday. The only comment we have from the RBA is that the bank “provided more liquidity to the foreign exchange market.'' We don’t even know the name of the spokesman, let alone the amount. The NKS says “Foreign Exchange Traders said the bank's entry level was US$0.6125. Yet, as of 0550 GMT, the pair is even lower at US$0.6088.” The RBA confirmed the Friday intervention on Sunday, perhaps hoping to scare of Foreign Exchange traders when the market opened on Monday. It didn’t work.
Pounds to Australian Dollars currently 2.5100
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Barbara Rockefeller
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