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- AUD/USD could surge to 0.74 sooner than expected – SocGen
AUD/USD could surge to 0.74 sooner than expected – SocGen
The Australian Dollar is likely to remain the favoured G10 expression of the bullish implications for China-sensitive currencies. Thus, the AUD/USD pair could hit the 0.74 level sooner than economists at Société Générale expected.
Asia should benefit from China’s recovery, lifting the Aussie
“As Australia is a major exporter of raw materials, including energy, metals and agriculture, there are clear direct benefits to a rapid Chinese re-opening, but they may be less important than the impact of improved broader Asian economic prospects, which would help the Australian economy.”
“The Aussie has been held back by the RBA being less aggressive in tightening monetary policy than other central banks, but a boost to exports in the months ahead, when the Federal Reserve is approaching the end of its tightening cycle, could see a move in AUD/USD to our year-end target (0.74) sooner than expected.”
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