Aussie Dollar to Snap Losing Streak on RBA Stance, China Support [Yahoo! Finance Canada]
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Source: Yahoo! Finance Canada
Most Read from Bloomberg The Aussie will climb as high as 68 cents by December, according to Westpac Banking Corp. and Bank of America Corp., which would imply a gain of 8.4% from Friday's close. National Australia Bank Ltd. and Westpac see the currency rising to 65 cents by the end of June, after some initial volatility. The Reserve Bank of Australia's reluctance to enter an easing cycle has helped support the Aussie, and investors are awaiting inflation data due this week to gauge if the cautious approach has been vindicated. The currency's appeal has also gotten a boost as China — Australia's largest trading partner — pledges to counter US levies by stimulating domestic spending. All this is happening as market watchers are warning that President Donald Trump's aggressive trade policy will hurt US economic growth and weaken the dollar. “We see a gradual recovery in the Australian dollar from the second quarter onward, propelled first by dollar depreciation followed by the
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