29 Oct 2013
Flash: AUD/USD could be 25% lower in 2016 (but is not falling yet)
FXstreet.com (London) - Kit Jukes, head of global currency strategy at Societe Generale noted the move in the AUD.
Key Quotes:
“The overnight mover is the Australian dollar 0.9% lower after RBA Governor Glenn Stevens is quoted as saying “It seems quite likely that at some point in the future the A$ will be materially lower than it is today”.
“I don't disagree with the Governor and can easily imagine AUD/USD at 0.80 in a couple of years' time. But I don't think, sadly, that there will be much follow-through from today's move and I still want to sell AUD/USD much closer to parity, much closer to the end of the year”.
Key Quotes:
“The overnight mover is the Australian dollar 0.9% lower after RBA Governor Glenn Stevens is quoted as saying “It seems quite likely that at some point in the future the A$ will be materially lower than it is today”.
“I don't disagree with the Governor and can easily imagine AUD/USD at 0.80 in a couple of years' time. But I don't think, sadly, that there will be much follow-through from today's move and I still want to sell AUD/USD much closer to parity, much closer to the end of the year”.