Research Team at TDS, notes that the RBA Board member, John Edwards got some airtime today, stating that he would be more comfortable with the AUD at US$0.65. Key Quotes “He believes the AUD has stabilised and that a floor has been set, thanks largely to the Fed postponing hikes and other Central Banks pursuing negative interest rates, with the risk the AUD strengthens from here. While the comments clearly reveal his unease with the current level of the AUD and his view that the AUD is not reflecting commodity price falls, this is in contrast to what we have heard from the RBA in the official statement and the SoMP where it was noted that the “Australian dollar has been adjusting to lower commodity prices”. Also Edwards said that the employment growth seen in late 2015 won’t be repeated, but this again stands in contrast to RBA comments where the Bank highlighted more data is needed to determine the labour market trend, in particular why GDP has been below trend and the unemployment rate has fallen. For now we consider his comments as reflecting his own thoughts and not necessarily those of the RBA.” For more information, read our latest forex news.