A pause, bounce or correction of the trend is probably on the horizon, however, it will take a lot more to dismantle the dominant down-trend in the pair.
The Aussie dollar is overvalued according to analysts at BNP Paribas, but don’t expect the British pound to take advantage of this fact anytime soon.
New exchange rate forecasts from St. George Bank in Australia confirm the pound sterling should maintain ground above 2.0 in 2016.
The pound has been in decline against the Australian dollar since August 2015 and our forecasts suggest a test of 2.0 is once again possible.
The Aus dollar (AUD) is forecast to decline yet further by analysts at Australia’s Westpac bank.
The Aus dollar has traded softer at the start of the mid-January currency market session.
Analysis presented by technical forecasters at TD Securities shows the UK’s pound sterling is due to make a fresh move higher against its Australian counterpart.
The Aus dollar has extended recent weakness as the government revises its year-end forecast for a wider cash deficit of AUD 40.4 billion from an early 29.8 billion due to weaker iron ore prices.
The Australian dollar exchange rate complex (AUD) is once of the biggest losers in global FX as we head into the closing sessions of early December.