#AUDUSD @ 0.66300 to climb back sustainably above 0.70 in the second half of 2023 – ING
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Economists at ING expect the AUD/USD pair to remain under pressure near term. However, the Aussie is set to regain some ground in the second half of the year.
“AUD has been hit quite hard from the deterioration in global risk sentiment and geopolitical turmoil. Improvements in those two factors are needed to allow a rebound in AUD/USD, and that may only start to materialise from the second quarter onwards.”
“But the Chinese growth story continues to place AUD in a rather advantageous spot to benefit from a broader stabilisation in risk sentiment.”
“A slowdown in inflation creates problems for RBA hawks, but our base case is still that 4.10% will be reached, and that AUD/USD will climb back sustainably above 0.70 in the second half of 2023.”
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