AUD/USD: Stable environment for the Aussie – CIBC
The Aussie is up over 4% since mid-April and an earlier than anticipated dose of optimism has forced analysts at CIBC Capital Markets to revise the AUD/USD forecast higher this month.
“The Aussie has benefitted from optimism, as the antipodean nations have been the first to re-open economies, after shutting down due to the COVID-19 crisis.”
“The RBA is expected to keep rates at emergency levels well past this year, while continuing to target the 3- year yield at 0.25%.”
“Q3 20: 0.65 | Q1 21: 0.66”