The Australian dollar got a boost overnight, and this strategist sees room for more.
Just about every expert was expecting a currency-denting interest rate cut from the Reserve Bank of Australia. Sure enough, when a cut never came, the Australian dollar got a lift. Is the party over?
Hardly, mate, says Andrew Busch, global currency and public policy strategist for BMO Capital. The central bank's inaction is "a big boon for the Aussie," he says. He also thinks China could cut some reserve requirements, which would boost risk appetite.