ING FX Strategy Research Although argues that while AUD has stayed bid as of late, the near-term risks stemming from the external environment could see AUD loses ground.
" Investors are contemplating two Trumps worlds: a revival of US reflation hopes or more tough talk on trade policy. Both will be negative for the rate - and risk -sensitive AUD; Short AUD/USD may be a good way to hedge for White House policy risks.
Either higher US yields or risks of trade-stifling global protectionist policies will exert bearish pressure on the pair in 3Q17"
In line with this view, ING looks for AUD downside risks towards 0.73 in Q3
Source of the graph: Bloomberg Pro Terminal
Trader - S. Fuchedzhiev
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