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AUD/USD potential drive to 0.88 – Rabobank

FXStreet (Edinburgh) - Senior Currency Strategist Jane Foley at Rabobank sees the pair heading towards 0.88 in the medium term.

Key Quotes

“The minutes of the September 2 RBA policy meeting make no secret of the fact that a weaker AUD would provide a great deal of relief to policymakers”.

“Frustration with the strong currency has almost certainly been heightened by the fact that in recent months RBA board members are increasingly viewing the risks associated with another interest rate cut in Australian as being potentially too high”.

“In the medium-term we expect AUD/USD to push lower towards the 0.88 area with risks from China being a principal reason for this view”.

“That said, we do not expect AUD/USD to move in a straight line and in the weeks ahead we expect AUD/USD to find some support as investors seek out yield”.

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