This tiny snippet from Westpac's detailed outlook for the new month, this on the AUD/USD:
- For Australia, the negative 10 year bond spread to the US continues to widen
- This has contributed to Australian dollar weakness,
- the Aussie … sharp downward movement ... has met our expectations
- still see some further downward pressure
- but the big moves are already behind us.
- Our forecast is for the AUD to be at 70¢ through mid-2019, then edging up to 72¢ in the December quarter reflecting an expected turning point in sentiment towards the US dollar.
