Monday, June 22, 2009

RBS predicts decline in Australian dollar

Currency experts Royal Bank of Scotland Group recommends selling the Australian dollar against the U.S. currency above the level of 0.8000, given that the ongoing global economic slowdown will force the Central Bank to maintain interest rates at 49-year minimum. The bank believes that the currency of Australia is unlikely to rise above recent highs at 0.8200, and may fall to the levels range between 0.7450 and 0.7710. As stated in the bank, the world financial crisis will be a deterrent for some more years. Indicators of demand in most western countries, to put it mildly, not very encouraging. Recent reports and data indicate that the Australian dollar needed to work hard to continue strengthening observed in the past few months. The yield on the state. Australian bonds may stop growing when damping speculation that the Reserve Bank of Australia will raise interest rates. As a result, believe in the bank, the attractiveness of the state. Australian bonds may decline against the U.S. government. bonds, leading to a decline in demand for the Australian currency. Now a pair AUD / USD traded at 0.7920 cents, compared with 0.8060 last week.

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