Westpac's new call on what they expect from the rbaa Reserve Bank of Australia is here:
WPAC on the implications for the AUD:
- Westpac's forecast for the AUD, since July 24, have been a narrow range of USD0.66 in the first half of 2020 followed by USD 0.67 in the second half of 2020.
- We remain comfortable with that view given the delayed introduction of QE being offset by the lower cash terminal rate.
- And note that these forecasts are in a world where the Federal Reserve does three rate cuts in 2020 and "risk off" remains the dominant theme.