Analysts at Morgan Stanley offer their outlook on the AUD/USD pair over the next 12 months, citing risks skewed to the downside.
Key Quotes:
“AUD to 0.67 cents in Q2, end year at 0.71.
Markets are currently pricing in about a 50 percent probability of an RBA rate cut over the next 12 months, fairly reflecting the economic weakness.
Under these dynamics, we see further Australian dollar downside.”