A surge in foreign deposits with the Reserve Bank has sparked claims it may be printing money, in an attempt to take the heat out of the Australian dollar. Central bank purchases of Australian dollars are seen as one reason for its strength, with up to 23 of the official institutions from around the globe including the currency in their portfolios. In research published on Wednesday, UBS strategist Gareth Berry said there was “compelling” evidence to suggest the RBA had taken the unusual step of meeting central bank demand in direct off-market transactions, which would dampen the currency’s strength. In the three ... (full story)