Commodity FX (CAD AUD NZD NOK)

after a four hour rally put on 90 pips in their beloved Aussie, the RBA was aghast that Aussie actually had the nerve to drop all of 21 pips in three hours. What was the RBA's response? Call the PPT and engage incoordinated intervention to a) prevent equities from being red two straight days, and b)push the overvalued AUD back to near days highs.

Stevens from the RBA returned my fax, said, "last one out of Aussie please turn out the lights."

PPT and RBA have shot their loads. Nothing left to dupe the public into buying overpriced and overstuffed and overvalued U.S. equites and AUD.

@Expert-I could not have put it any better!

No. Actually the RBA sold A$ in February, something around 250 million $. And yes that means that they sell AUD and buy USD. I don't know about March so far. But obviously every country wants its currency somewhat balanced and in the case of the AUD the RBA does nothing to buy its own currency, why should they? The rest of the world is already doing this. Or do you really think that someone wants to buy USD if he/she can get a yield of 4% in a somehow "safe" environment?

Hmm... so if you don't know why, how come you think that the RBA actually does it? I mean I see some light at the horizon and that might lead some investors to buy some high yielders? Could be that easy. ;)