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FXstreet.com (Barcelona) - According to NAB, central bank demand from AUD and CAD may have been in the order of $13bn for each currency in Q3. The bank adds that "the SNB is unlikely to have accounted for more than about $3bn of the demand for either currency, leaving some $10bn worth of demand for each from other reserve managers."

"If so, this means that the RBA took only a small proportion of this demand 'off market' during Q3, given that their 'other outright' FX transactions summed to only a little above $1bn during Q3" NAB concludes.
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