CBA: Australian dollar on its way to 85 cents

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From CBA via the AFR:

A continued slide in the greenback could see the Aussie dollar push as high as US85¢ by the end of next year, analysts at Commonwealth Bank say.

…Weakness in the US dollar explains much of this expected strength in the local currency, CBA chief currency strategist Richard Grace said in a note to clients, as trends that were apparent in late 2016, but which were knocked off course by the shock election of Donald Trump as US president, reassert themselves.

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About the author
David Llewellyn-Smith is Chief Strategist at the MB Fund and MB Super. David is the founding publisher and editor of MacroBusiness and was the founding publisher and global economy editor of The Diplomat, the Asia Pacific’s leading geo-politics and economics portal. He is also a former gold trader and economic commentator at The Sydney Morning Herald, The Age, the ABC and Business Spectator. He is the co-author of The Great Crash of 2008 with Ross Garnaut and was the editor of the second Garnaut Climate Change Review.