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Westpac: AUD/USD Remains “Fragile”

AUD

Westpac believe that “AUD/USD remains fragile with yield spreads tracking against it as Fed rate cut bets moderate.”

  • Another threat comes as “Beijing is nurturing new secular growth sources in renewables and advanced technology, which are not as obviously steel and iron ore intensive, compared to other commodities such as copper.”
  • As a result, Westpac target $0.6500 on a 1-month horizon and see “risks of a redefining of the bottom of AUD/USD’s recent ranges to lower levels in April.”
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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