ANZ Bank tips US70 cents for Australian dollar early in 2019
MELBOURNE – In a research note issued today, ANZ Bank says the decline of the Australian dollar looks set to extend. ANZ now expects it to slip below US$0.70 early in 2019.
“The weakness will be driven by a deterioration in global risk appetite, rather than any substantial change in the outlook for Australia interest rates or commodity prices,” ANZ says.
“We view this as the final phase of weakness for the AUD. The push below US$0.70 will present medium-term value opportunities. The AUD is trading slightly cheap, but not at an extreme.” www.live.anz.com (ATI).