Australia Westpac Ups 2017-End AUD View to $0.76 From $0.73

--Ups 2018-End Forecast to $0.70 From $0.65

By Sophia Rodrigues

     SYDNEY (MNI) - Westpac has revised higher its forecast for the Australian

dollar to reflect an upward revision in its commodity-price profile.

     Westpac now expects the Australian dollar to end this year at $0.76

compared with $0.73 forecast earlier.

     A bigger change is in its forecast for the end of 2018 which is revised

higher to $0.70 from $0.65.

     Westpac chief economist Bill Evans pointed to the substantial rally in

commodity prices in the past two months -- mainly iron ore, coal and Brent crude

oil.

     "The rally in commodity prices and associated currency-market reaction has

seen us revise our near-term outlook for the Australian dollar higher," Evans

said.

     The revision is also a reflection of a change of view on China where Evans

continues to expect tightening through the remainder of 2017 -- but at a modest

pace.

     Other factors affecting the exchange rate are unchanged, Evans said.

--MNI Sydney Bureau; tel: +61 2-9716-5467; email: sophia.rodrigues@marketnews.com

[TOPICS: M$A$$$,M$L$$$]