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AUD/USD: Downside risks to 0.90 year-end target - TDS

FXStreet (Bali) - Prash Newnaha and Annette Beacher, FX Strategists at TDS, note that downside risks to TD’s USD0.90 year-end target remain.

Key Quotes

"Downside risks to TD’s USD0.90 year-end target remain. But we feel that is unlikely to be driven by the markets pricing in an RBA cut, given how much airtime the RBA has spent trying to talk down property prices."

"As such, we see the risk to the AUD emerging from the very factor that kept the AUD elevated for so long – offshore AUD bond flows."

"To the extent that the USD resumes its march higher, we expect FX-sensitive investors could begin locking in profits on long bond positions, accelerating any AUD decline."

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