Australian press: 'Things are looking quite bearish': Australian dollar tipped to drop to mid-60s

Author: Eamonn Sheridan | Category: News

In the local press here (Sydney Morning Herald) on the AUD

Australia's dollar is under siege
  • from the election
  • a trade war
  • and a faltering economy
Nomura Holdings advocates a short position ahead of Saturday's general election
  • QIC has advised pension-fund clients to sell the Aussie against the dollar and yen
  • AMP Capital is equally pessimistic
  • "I'd be long dollar versus the Aussie right now with something like the mid-60s a reasonable target," said Stephen Miller, an adviser at GSFM in Sydney and a former head of fixed income at BlackRock's Australian business. "If I were looking for ways to play the trade war, and with growth cooling, shorting the Aussie would be one of them."

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