An AAP survey of 17 foreign exchange professionals has found:
- The median forecast for the currency on December 31 is 88 US cents
The article goes on:
- The Aussie is widely expected to rise in the coming months before settling back to levels it was at before the onset of the global financial crisis in 2008
- Until New Year’s Eve rolls around, the Aussie dollar is expected to trade between 87 US cents and 97 cents
Says AMP Capital chief economist Shane Oliver:
- main factor expected to weigh on the dollar is possible interest rate rises in the United States next year.
- “The market will focus more on that and that will act as impediment for the Australian dollar”
- “We’re having a bit of a pause at the moment in the 90s and over time it’ll head below 90 US cents and ultimately I think we’re on our way to around 80 US cents”
There’s more at the article here: $A poised to fall below 90 US cents
