AUD: Scope For Modest Gains Into Year-End; Where To Target? - ANZ

ANZ FX Strategy Research sees a number of factors that suggest that further upside in AUD/USD is possible.

"1- The impending bias shift from the RBA;

2- The still strong global growth environment; and

3- The impact of the softer inflation outcomes on the USD," ANZ notes. 

However, ANZ continues to think that this upside is limited by the fact that:

"1-The RBA’s tightening cycle will be cautious and brief; and

2- Negative sentiment towards the USD looks excessive," ANZ adds. 

All in, ANZ now sees scope for modest gains towards 0.81 into year-end.

Source: ANZ, eFXnews™