Australian Treasurer Frydenberg: Economy has once again displayed its strength

Aussie Treasurer Josh Frydenberg came out with an op-ed write-up for The West Australian, conveyed via his tweeter handle, during early Wednesday morning in Asia.

Australian diplomat cheered the Oz nation’s upbeat growth, the decline in unemployment and S&P’s recent upgrade to the rating while confirming, “Our economy is bigger than it was pre-COVID.”

“But despite the strong momentum we have seen across the economy, there is no room for complacency and we must secure the economic recovery,” added Frydenberg.

The diplomat concluded the piece, titled as Australia’s strong recovery from pandemic leads the way, by saying, “We are not yet out of this crisis, but working together, we will get there and be stronger on the other side.”

Market reaction…

Despite upbeat comments from the Aussie policymaker, AUD/USD remains on the back foot amid cautious mood ahead of Thursday’s US inflation and the ECB.

Read: AUD/USD stays pressured towards 0.7700 ahead of RBA’s Kent, China CPI