Rabobank on the future of the Australian dollar
Rabobank employees are skeptical of attempts by the Australian dollar to recover. Analyst of the bank, Jane Foley, said that the strengthening of the Aussie is temporary. In her view, weak data from China make investors worry that economic growth in Asia slowed. Additional pressure on the currency has a rapid increase in the dollar. She adds that the decline forecast for world economic growth in the short term, the Australian dollar will not go back to the area earlier highs, even if concerns about the debt crisis in the euro area is considerably weakened, while demand for U.S. currency falls. The current rate of AUD / USD $ 0.9800.
Rabobank employees are skeptical of attempts by the Australian dollar to recover. Analyst of the bank, Jane Foley, said that the strengthening of the Aussie is temporary. In her view, weak data from China make investors worry that economic growth in Asia slowed. Additional pressure on the currency has a rapid increase in the dollar. She adds that the decline forecast for world economic growth in the short term, the Australian dollar will not go back to the area earlier highs, even if concerns about the debt crisis in the euro area is considerably weakened, while demand for U.S. currency falls. The current rate of AUD / USD $ 0.9800.