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Westpac note that the "AUD underperformed....>

AUSSIE
AUSSIE: Westpac note that the "AUD underperformed in the weeks of broad US
dollar strength following the FOMC and ECB mid-June meetings but so far in July
it has been near the middle of the G10 pack. Weighing on AUD have been a
pullback in key commodity prices, especially metals, bouts of investor concern
over US-China trade tensions and the Fed's ongoing optimism on the US economy.
But support on dips has come from the relative brevity of trade-driven equity
declines and Australian data generally decent enough for the RBA to maintain its
bullish growth forecasts. We look for AUD/USD at $0.74 at the end of September."
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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