Westpac note that "the revival in global.....>

AUSSIE: Westpac note that "the revival in global equities has been a key

contributor to AUD's rebound to above $0.6700, 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 though is $0.6600, with the reality of a

tepid global economy in H220 and woeful earnings reports likely to keep a lid on

the global investor mood."