AUD/USD to rebound back to the June and July 0.69 peaks before year-end – ING AUDUSD RBA Banks
The Australian Dollar has been the worst-performing G10 currency in the past month. Nonetheless, economists at ING see ample room for recovery.We think the domestic picture will improve for AUD, as the RBA may well have to hike again despite market’s flat rate expectations.
In line with our bearish USD call for later in the year, we expect AUD/USD to rebound back to the June and July 0.69 peaks before year-end, and then find more support above 0.70 in the first half of 2024.Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets.
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