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Daniel Been, analyst at ANZ, suggests that further AUD weakness is increasingly contingent on the RBA easing policy in 2020.

Key Quotes

“While a trade resolution looks well priced into risk assets in the very short term, an impending improvement in global growth would provide a solid base for risk as we move into the first quarter.”

“If the RBA remains focussed on reducing spare capacity in the domestic economy and ease further, then the AUD will react strongly, likely testing USD0.65.”