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Reuters analysts say the Australian and New Zealand dollars have risen too far, too fast and are likely to pull back near term. The Aussie reached 0.6533, up from a 17-year low of 0.5510 in mid-March, and a poll expects 0.6300 in one month.
Westpac warned of a risk-off reversal as the RBA forecasts an 8% contraction in the year to June.
A stronger AUD makes Australian exports less competitive in global markets, while a risk-off pullback could ease that pressure. The commentary is routine currency market analysis with no new supply or demand event.
brecorder.comMay 31, 2020Not 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.
