Westpac's Australian Dollar Forecasts Show Strength Against Pound, Euro and U.S. Dollar
- Category: AUD
The Australian Dollar is predicted to strengthen against the Euro, Pound and U.S. Dollar over the next few months and through 2025, according to a major Australian lender.
The Pound to Australian Dollar exchange rate (GBP/AUD) is forecast to break above a key resistance line in the coming week amidst falling commodity prices and soft investor sentiment.
The Governor of the Reserve Bank of Australia (RBA) said the central bank won't be pushed into cutting interest rates until it felt the right conditions had been met.
The Australian Dollar is the day's biggest loser on a combination of sliding stock markets, falling commodities and higher U.S. treasury yields. Domestically, partial GDP data and a blowout current account deficit raised eyebrows.