Westpac writes "the Aussie has bounced.......>

AUSSIE: Westpac writes "the Aussie has bounced around 2 cents since early

October, aided by a more positive tone on US-China trade talks and the

unexpected Brexit breakthrough which has bolstered global risk appetite. AUD

should remain supported near term but any trade in the 0.6950/0.7000 area is

likely to attract substantial sellers. While supply interruptions could limit

the recent fall in iron ore prices, coal prices remain near 3-year lows and we

expect the US and China to reach only a very limited trade agreement in coming

weeks. Moreover, the RBA does not want to encourage A$ revival and pricing for

another rate cut has been unwound too far, as we still expect a rate cut in Feb

2020. Our year-end target remains 0.6700."