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House prices test for whether RBA follows Fed on easing – The Australian Financial Review
House prices are rising but so is the Australian dollar, which makes the Reserve Bank’s decision on bond-buying just that little bit harder.
Some economists thought the Fed would taper its asset purchases at the meeting, but Mr Powell said it was premature to talk about tapering when the economy faced such challenges.
As the Fed continues to buy more US government bonds, this pushes down yields, and that means the US dollar loses some value. Conversely, Australias bond yields become comparatively higher and that means global investors buy them, placing upward pressure on the Australian currency.
The Australian dollar was sitting at US76.40…
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