🎙️ FX Talk | Get updated on what's happening on the financial markets in 20 min. listen here.

A ‘miracle’ needed to see AUD above 70 cents this year

  • Go back to blog home
  • Blog
    Blog|Currency Updates
    Blog|In The News
    Blog|International Trade
    Charities & NGOs
    Currency Updates
    Currency Updates|In The News
    In The News
    In The News|Press
    International Trade
    Press
  • Latest

7 September 2022

Written by
madelineloughma

He says that the central bank’s statement seems to suggest monetary policy has reached neutral territory and that markets have begun expecting smaller rate hikes of 25 basis points between now and February next year. So, what might this mean for the Australian Dollar?

Well, according to Patrick, “it’s going to be a miracle for us to be above 70 cents by December”. He explains why a significant catalyst in Asia will be needed to see a recovery in Australia, but why – because of the downside in China – there will be limited influence from China on that front. Patrick also turns his attention to the “disorderly” Japanese yen – a currency that’s generally a safe-haven under normal circumstances, but not against the current macroeconomic backdrop, which has been impacted by the global energy sector.

Watch full interview here.

SHARE