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Commonwealth Bank economist Joe Capurso said the Australian dollar is undervalued relative to commodity prices that have spiked since the Ukraine conflict began. CBA expects the Reserve Bank of Australia to start raising rates in June.
The bank sees the Aussie strengthening through 2022 on higher energy and metal prices.
Expected currency strength makes Australian exports more expensive abroad, but the view is based on higher commodity prices that support feed input costs. The effect on feed markets is limited.
commbank.com.auMar 15, 2022Not enough comparable past events yet for a historical read.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.
