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Australia RBA's AUD Sales Trend Seen As Passive Intervention
The Reserve Bank of Australia sold A$483 million into the market in October, pushing its reserves up by an equivalent of A$457 million, data showed Thursday, in a continuation of months of using passive intervention to tame the strong Australian dollar. The RBA rarely intervenes directly, but does buy and sell in the spot market based on inflows, and while A$483 million isn't a big amount in terms of the total market, it is continuation of trend seen since August, market watchers said. The October figure takes the total amount sold by the RBA directly to A$1.37 billion in the three-month period to October, and may ... (full story)