Phin Ziebell joins Rodrigo Catril, Senior FX Strategist. Phin and Rodrigo discuss the post FOMC market volatility with Rodrigo highlighting the unwinding of USD short positioning as a big factor contributing to the post FOMC greenback appreciation. Phin and Rodrigo then touch on NAB’s outlook for the AUD where fundamentally not much has changed, the global growth outlook remains on a strong footing favouring buoyancy in commodity prices while domestically the strength of the economy and recovery of the labour market also point to the AUD moving higher from here. There are, however, risks to this outlook with Phin and Rodrigo noting how vulnerable Australia remains to covid outbreaks amid the low level of vaccination per population. Tony Prove joins the chat and discusses recent exporters and importers activity in light of a lower AUD.