Lowe: "Hard to say that Aussie is fundamentally overvalued"

Lowe who is continuing to take questions in front of the House of Representatives' Standing Committee on Economics at the moment.

Lowe already stated that he does not see the rate of inflation falling any further and the reduced unemployment rate should be possible and be keeping close to the current level.

More recently, he says that it is hard to say that the Aussie is fundamentally overvalued but said it would be better if the currency were lower. He explained that commodity prices go up further then the Aussie would be expected to follow and the interest rate differential would also affect the Aussie. 

AUD/USD has printed lows of 0.7705 trading in a very narrow range around the headlines of just 15 pips or so.