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3 Apr 2020
AUD/USD: Mildly bearish – ANZ
The near-term outlook for the Australian dollar depends on the grade of the activity slowdown, according to economists at ANZ Bank.
Key quotes
“Shifting risk dynamics around COVID-19 have created downside pressure for the AUD, which is closely linked to activity in Asia via tourism and the export of raw materials.”
“The near-term prospects for the Aussie are likely to hinge on transmission rates and the scale of the activity slowdown.”
“Spot: 0.60 ANZ Fair value: 0.64”