The Australian dollar has continued to hold above the 80 U.S. cent mark on Thursday, with all eyes on the speech set to be given by the Reserve Bank of Australia (RBA) Governor Philip Lowe later this afternoon.
At the Asian open, one Australian dollar was buying 80.29 U.S. cents, slightly dipping from the 80.38 U.S. cents it was trading at late Wednesday.
Lowe's speech is entitled "The Next Chapter", and according to senior currency strategist at CommSec Elias Haddad, may signpost future RBA policy after the conclusion of the mining boom in Australia.
"Lowe may discuss what the future holds now that Australia has successfully navigated the biggest boom and bust in mining investment in the nation's history," Haddad told Xinhua in a statement on Thursday.
"The risk is that Lowe talks up the economy and hints that the risk of a rate hike is growing."
At 8:25am (AEST), one Australian dollar was buying 80.31 U.S. cents, while crude oil was trading at 50.41 U.S. dollars per barrel.
At the Asian open, one Australian dollar was buying 80.29 U.S. cents, slightly dipping from the 80.38 U.S. cents it was trading at late Wednesday.
Lowe's speech is entitled "The Next Chapter", and according to senior currency strategist at CommSec Elias Haddad, may signpost future RBA policy after the conclusion of the mining boom in Australia.
"Lowe may discuss what the future holds now that Australia has successfully navigated the biggest boom and bust in mining investment in the nation's history," Haddad told Xinhua in a statement on Thursday.
"The risk is that Lowe talks up the economy and hints that the risk of a rate hike is growing."
At 8:25am (AEST), one Australian dollar was buying 80.31 U.S. cents, while crude oil was trading at 50.41 U.S. dollars per barrel.
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