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VIEW: Westpac note that "the revival in......>

AUSSIE
AUSSIE: VIEW: Westpac note that "the revival in global equities has been a key
contributor to AUD's rebound to the $0.68-0.70 area, with the positive
correlation with risk appetite firmly intact. The Aussie's support is broader
than equities however, with iron ore above $100/tonne on both supply and demand
trends, helping Australia maintain a current account surplus for a full year.
Australia's outperformance on Covid-19 containment also raises the prospect of a
sharper domestic economic rebound which keeps the RBA comfortable with current
policy settings. Our end-Sep forecast is $0.70, but with some pressure on the
Aussie (sub-$0.66) over Q3 likely from a patchy global economy and woeful
earnings reports, along with growing geopolitical tensions."
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com

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