AUD/USD seen with modest upside bias over next 12 months – Rabobank
Rabobank strategist Jane Foley notes the Australian dollar has trended higher against the greenback since July, driven by a softer US dollar, and expects a modest continuation of that trend.
The Australian dollar has been trending higher against the US dollar since July, according to Rabobank Senior FX Strategist Jane Foley. The move has been largely attributed to broad-based weakness in the greenback rather than any particular strength in the Aussie.
Within the G10 group, the AUD has been a mid-pack performer, neither leading nor lagging significantly.
Looking ahead, Rabobank expects a modest upside bias to persist for AUD/USD over a 12-month horizon. The forecast implies that the current drivers—especially USD softness—are likely to remain in place, albeit without aggressive gains.
Source: FXStreet Forex News