The Aussie dollar continues its relentless albeit slowly upside
on Thursday after today's mixed domestic data, hovering over 1.0430
and printing fresh session highs at the same time.
"Technically, AUD looks poised for further weakness and could face
a temporary test down to the December low of 1.0329, however we are
bullish over the medium term, as we do not expect an interest rate
cut by the RBA, we expect China's growth to support the Australian
economy and we believe that once the current negative AUD flows
ease, the currency will be poised for gains. Accordingly, we hold a
year‐end forecast of 1.08", suggests Camilla Sutton, Chief Currency
Strategist at Scotiabank.