Australian Dollar too Expensive warn Westpac (and RBA Governor Debelle Appears to Agree)

The Aussie Dollar might be getting a little ahead of itself here.

The commodity currency block, which includes AUD, CAD and NOK, is forecast to turn higher, says analyst Bipan Rai of CIBC economics.  

The Pound to Australian Dollar exchange rate has fallen over 1.5% overnight after the Reserve Bank of Australia (RBA) released the minutes from their June meeting, in which was revealed a much more upbeat assessment of the economy.

The Pound to Australian Dollar is at risk of more downside in the week ahead after falling steeply to the level of the 200-day moving average in the 1.66s, for the second time in as many months.

Does the Australian Dollar’s idiosyncratic rally of the last few days represent the last gasp of the bull trend?

The Pound has recovered over recent weeks on the back of more hawkish talk from Bank of England (BOE) officials who have increasingly advocated raising interest rates, this source of strength, however, may be coming to an end.

Foreign exchange strategists at Morgan Stanley have told clients they are looking to sell the Australian Dollar against the US Dollar in the week commencing July 10. Read more ...

It’s been a mixed month-to-date (past 30 trading days) for the Australian Dollar which is stuck in the middle of the field in the performance stakes.