AUD/USD: 3-moth forescast revised to 0.55 – Rabobank
In just one week the AUD has fallen over 7% vs. the USD to levels in line with the 2008 low. If the crisis fails to show signs of abating AUD/USD is likely to have further to fall, in the opinion of analysts at Rabobank.
“It is likely that the bottom for AUD/USD will only be reached once demand for USDs softens.”
“Further policy actions from the Fed or a large fiscal stimulus from the US are likely to be important measures in propping up risk appetite and tempering USD demand.”
“We have revised lower our 3 month AUD/USD forecast to 0.55.”