Goldman Sachs is 'cautious' but looking for AUD/USD to rebound to 75 cents

Comments from Philip Moffitt, Goldman Sachs Asia-Pacific head of fixed income in the Australian Financial Review this morning.

• AUD has been "struggling to go down" further
• Could rebound to US75¢
• Goldman Sachs remain "cautious", but is increasing Australian exposure ... along with positions in emerging-market sovereign bonds, such as Mexico's and Brazil's, and credit
• Says the deceleration in China isn't "out of control"
• "The Chinese economy's weakening, we'd sign up for that, but it's not weakening across the board, and there are actually some parts of it that are actually doing quite well."
• Sees a less acute downturn taking place, with signs of strength in retailing, some parts of the property market and consumer-driven sectors. "We identify a slowdown for sure, but it's not a massive slowdown"

More at the article, which appears to be ungated: Goldman's Philip Moffitt says $A set to rebound as China fears begin to wane

Moffitt is a very smart cookie.