RBA’s Harper: Would certainly be unhelpful if AUD/USD was back up over 0.70

In an interview with Bloomberg on Friday, Reserve Bank of Australia (RBA) board member Ian Harper offered his take on the next policy action and Australian dollar.

Key quotes

“Government should come up with a "tapering arrangement" for its stimulus programs (these are due to end in September).”

“A sharp cut off would damage the recovery and potentially drive unemployment even higher.”

“Government should be able to develop a form of fiscal support other than the current JobKeeper subsidy.” 

"It would certainly be unhelpful if the rate was back up over 70 cents, that's for sure." 

"It might've been nicer if it was weaker for a little longer."

AUD/USD defends 0.6850

Despite Harper talking up the exchange rate value, AUD/USD is unperturbed and defends minor bids just above 0.6850.