[B]Ikon Forex – [/B]Early in the Asia forex market on Tuesday (August 10), the forex rate of AUD/USD was maintained above 0.9150 and got a strong adjustment there, in the previous night the highest point this forex price had reached was at 0.9204 in the forex market. Due to the mild rebound of the USD index in the previous night in the forex market, compared with other major non-USD currencies, the performance of AUD was relatively strong.
A senor forex analyst in NAB called John Kyriakopoulos said if FED decided to restart the quantitative easing policy in the forex market, then it would be possibly that the forex rate of AUD/USD would surged up sharply in the forex market. Therefore, the forex rate of AUD/USD might surge up to close 0.9400.
Kyriakopoulos pointed out FED could continue to invest on the existed bond or to further buy in mortgage loans to support bonds in the forex market. And the later one would make the forex brokers more anxiety towards the prospect of FED in the forex market.
Kyriakopoulos also added besides the yield curves of US national debt would decrease, the appreciation expectation of the Australian RBA in the fourth quarter of this year would also be one of the major reasons for the forex rate of AUD/USD to increase in the forex market.
The forex rate of AUD/USD was at 0.9155/60 at 07:35 Beijing time.
Edited by Laura in Ikon Group.