The Reserve Bank may shift to a very mild tightening bias which won't be enough to support the Australian dollar while the Fed is pushing up rates.
More Quotes from John Kyriakopoulos:
The Fed is still going to 5 percent and therefore Australia's yield advantage will continue to narrow.John Kyriakopoulos
Higher metals prices and poor US dollar sentiment are offsetting a declining yield advantage for the Aussie, but we still see it expensive north of 0.7500.
John Kyriakopoulos
Around 75 cents is the sell zone, which is close to the 100-day moving average which provided a bridge too far over the past nine months.
John Kyriakopoulos
U.S. economic reports serve to remind investors that U.S. economic growth remains solid, and as long as this continues, writing the U.S. dollar off could prove a costly strategy.
John Kyriakopoulos
The Australian dollar is being hurt by the rise in global bond yields, driven by expectations all three major central banks will be raising interest rates this year. This is hurting commodities.
John Kyriakopoulos
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