The Australian dollar has been under pressure against both the British pound and US dollar of late with the global financial and commodity market backdrop proving unsupportive.
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In its latest set of forecasts the Commonwealth Bank of Australia (CBA) predict the Aussie will hit a low of 0.65 against USD before gradually recovering.
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Australian dollar exchange rate forecasts from RBS confirm the UK bank is predicting declines against the British pound, US dollar but against the euro gains should be made.
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“We favour owning downside AUDUSD digital puts as a leveraged play on further CNH depreciation.” - Bank of America.
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Westpac’s Sean Callow says the Aussie dollar is likely to continue its period of outperformance against the British pound.
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Against all the odds the Aussie has been strengthening short-term, but can it keep up the momentum?
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The just-released RBA December meeting Minutes noted an improvement in growth in its major trading partners in the last quarter, however, this was against a backdrop of below-par growth for the yea…
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