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Westpac strategists say the Australian dollar has risen 5.7% over eight weeks, well ahead of their fair value model. They attribute up to 70% of the rise to US dollar weakness, and note that commodity prices are at one-year highs.
The analysis suggests the Aussie is overextended, which could lead to a correction. Strong Australian commodity prices and a weak US dollar support dollar-priced export values.
investinglive.comJan 22, 2018After 359 past neutral macro events, DXY moved a median -0.0% over 5 sessions (49% higher; middle half -0.4% to +0.4%), and -0.1% over 20.
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.
