RBA boss says "Aussie is still too high" then it rallies even higher.

In his speech in Hong Kong on Wednesday Reserve Bank Governor Glenn Stevens said the Aussie Dollar was still too high but then went on to say. “We are going to have a boom in residential construction over the next couple of years that is very much on track.” Stevens also said. "Our assumption is that the terms of trade will fall further. We think commodity prices will be softer from where they have been in the past." He then added.  “It will be quite a surprise if that comes to pass if the Australian dollar doesn’t depreciate along with that."  Meaning that if commodity prices fall, so should the Aussie Dollar.

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