AUD/USD: Australian fundamentals are relatively strongly positioned – Rabobank – by MSalordFX AUDUSD Currencies Banks
was the first major central bank to return to a more ‘normal’ 25bp rate hike. Although the Bank had signaled it was considering such a move, in view of the prevalence of high inflation levels, the decision was still a surprise to the market. The reason given by policy makers for reverting to a 25bp incremental move was “that the cash rate had been increased substantially in a short period of time and the full effect of that increase lay ahead.
“We favour the AUD vs. both the EUR and the GBP and see scope for AUD/USD to move towards 0.65 early next year.” If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.
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