Longer term trend for AUD remains negative against major trading partners!
Summary
- While AUD has made some gains against major currencies over the past one and three months, the longer-term trend has been negative
- The continued soft outlook for AUD is underpinned by weaker domestic economic data, dovish RBA and mixed outlook for commodity prices
- Volatility of AUD against JPY and Swiss Francs stand out
- The USD Index continues to display an uptrend despite the shift in Fed Reserve policy stance
- The British Pound index continues to experience heightened volatility as ‘Brexit’ drama continues in UK
