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Forex Flash: AUD/USD buy on dips below 1.0300 – Rabobank

FXstreet.com (Barcelona) - The Aussie dollar is hovering over 1.0355/60 on Tuesday, retracing ground after hitting intraday highs in the proximities of 1.0390 on spiralling risk appetite.

In the opinion of Jane Foley, Strategist at Rabobank, Australian assets continue to attract investors due to Australia’s solid fiscal position and fundamentals, reflected in a solid demand for domestic bonds and a resilient AUD. However, should the deceleration in China intensifies, it may prompt the RBA to ease further in the next June meeting, weighting on the AUD.

“When viewed in a global context Australia can still boast a relatively decent budgetary position, reasonable growth potential, a solid banking sector and a central bank that has room for manoeuvre on rates. For the time being dips in the AUD/AUD below the 1.03 level are still likely to be viewed as buying opportunities”, concluded Foley.

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