Australian dollar higher or lower by the end of the year? … Survey says … (Do you agree?)

Author: Eamonn Sheridan | Category: News

Author: Eamonn Sheridan

An AAP survey of 17 foreign exchange professionals has found:

  • The median forecast for the currency on December 31 is 88 US cents

The article goes on:

  • The Aussie is widely expected to rise in the coming months before settling back to levels it was at before the onset of the global financial crisis in 2008
  • Until New Year’s Eve rolls around, the Aussie dollar is expected to trade between 87 US cents and 97 cents

Says AMP Capital chief economist Shane Oliver:

  • main factor expected to weigh on the dollar is possible interest rate rises in the United States next year.
  • “The market will focus more on that and that will act as impediment for the Australian dollar”
  • “We’re having a bit of a pause at the moment in the 90s and over time it’ll head below 90 US cents and ultimately I think we’re on our way to around 80 US cents”

There’s more at the article here: $A poised to fall below 90 US cents

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