#AUDUSD @ 0.67305 to advance nicely towards 0.74 by year-end – BofA
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Economists at the Bank of America Global Research expect the Australian Dollar to strengthen later in the year and target AUD/USD at 0.74 by end-2023.
“We are bullish AUD/USD in the medium term due to the lagged impact of China property easing and reopening, alongside the Fed ending its tightening cycle in 2023.”
“We forecast 0.74 by year-end but more neutral near term (0.69 end-1Q) especially given the ongoing repricing of US rates and US Dollar strength.”
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