Mahjabeen Zaman also believes the next RBA rate move is more likely to be up than down and doesn’t envisage rate cuts until late next year.
ANZ’s new head of FX Research, Mahjabeen Zaman, expects the Australian dollar to rally into the year-end as falling business activity in the world’s largest economy weighs on the greenback.
ANZ forecasts the $A to hit US68¢ by the end of next month, rising to US70¢ by year-end, but the projections are under review and will be released “soon”, according to Ms Zaman. Ms Zaman said the next interest rate move in Australia was more likely to be up than down, but it would depend on the quarterly inflation report due out late October. Rate cuts, however, won’t happen until late next year, she predicted.
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