It’s becoming something of a rush, from Bloomberg:
The Australian dollar is likely to extend its rally toward 80 U.S. cents and that’s when investors should consider betting against it, according to Goldman Sachs Asset Management.
The currency has shrugged off half a percentage point of interest-rate cuts from the Reserve Bank of Australia and climbed 4.9 percent this year to 76.44 cents as of 5 p.m. on Friday in Sydney. Philip Moffitt, who heads the fund manager’s Asia-Pacific fixed-income team, said the central bank could get “nervous” around the 78-to-80 cent mark.
