The Royal Bank of Australia governor delivered a speech in New York City at an event organised by JP Morgan Chase. He reiterated the fact that rate cut is still an option for the central bank.
He however, highlighted the fact that central bank set a lot of unrealistic targets and uses different monetary policies to achieve them.
It would be recalled that the central bank cut rates to a record low of 2.25% in February. A further cut was expected in March but it did not happen. We might see a further decline on AUDUSD after a sell off seen during the speech yesterday. The downward trend might continue.
Fig 1: AUDUSD Daily Chart