According to Goldman Sachs Asset Management's Asia-Pacfic head of fixed income, Philip Moffitt
Moffitt says that the aussie is posed to fall by another 5% against the greenback as the RBA stays on hold while the Fed continues to raise interest rates further.
He cites that restrained economic growth and inflation will mean that the RBA will take "a few years" to catch up with the Fed. Adding that "it's hard to be bullish on the aussie".
"There's going to be a pretty decent period of sluggish growth without much inflation. We've also still got slack in the labor market - put all of these factors together and we're a few years behind the US on rates", Moffitt argues.
