BLBG: Sell Euro for Australian Dollar on Possible ECB Policy, RBS Says
Investors should sell the euro for the Australian dollar because the European Central Bank is nearer to buying government bonds than the Reserve Bank of Australia, according to Royal Bank of Scotland Group Plc.
“Quantitative easing and steady policy measures taken in the major countries continue to provide a recovery in investor confidence near term,” Greg Gibbs, a foreign-exchange strategist in Sydney at RBS, wrote in a research note today. “But the ECB is seen much closer to the quantitative easers” than the RBA.
