RBA's Lowe: "Commodity prices will pull back from current levels"

Lowe is taking questions in front of the House of Representatives' Standing Committee on Economics at the moment.

The RBA thinks that commodity prices will pull back from current levels and Lowe doesn't expect Iron ore to sustain at USD90 tonne. Lowe also said with the market pricing in for an unchanged cash rate seem reasonable.

Previous comments:

• Lowe: "Hard to say that Aussie is fundamentally overvalued"
• RBA's Governor Lowe states global economy firmer footing

Extra reading:

RBA's Lowe vs. Aussie vs. households 180% 'dark cloud' debt-to-income

AUD/USD's range has widened to 20 pips is now trading at 0.7715, up 0.03% on the day, having posted a daily high at 0.7722 and low at 0.7705.