BoA looks for a higher AUD on still-rising commodity prices
Via a BoA note, analsyts say higher commodity prices are only tentatively priced in resource-linked currencies.
Say that as commodity price gains pick up further the currencies are likely to rise
- Single out NOK citing a more hawkish central bank
- Also like AUD citing exports of copper, lithium. cobalt
As background they point to:
- US fiscal spend (esp infrastructure)
- China demand