Glenn Stevens spoke to the Australia Conference of Economists (ACE) and the Econometric Society Australasian Meeting. With the reason ramp up in Aussie strength, the governor of the Reserve Bank of Australia (RBA) was bound to remind the markets about the risks of an overvalued AUD. The reaction to these types of comments have always pulled down the Aussie at least in the short-term. The AUD/USD started the 7/2 session dragged down by trade balance data showing a widening deficit due to slower exports. A strong AUD makes Australian exports more expensive to other countries. Stevens timing was perfect because the ... (full story)