FXStreet (Edinburgh) – According to strategists at TD Securities, the prospects for the Aussie dollar remain constructive towards year-end.
Key Quotes
“The AUD peaked at $US0.73 after the RBA’s upbeat testimony/dovish FOMC combination, but has been a one-way grind lower to $US0.70 as China concerns linger and the market re-evaluate the next move from the Fed”.
“A new near-term AUD positive is a shift to a consultative Prime Minister and a fresh Cabinet. If optimism drives investment and the budget deficit is reigned in, expect AUD target upgrades by year end”.
(Market News Provided by FXstreet)