It’s been a tough year for the Pacific Peso, starting out at 72.50 cents versus USD, slumping below the 62 cent level as the US Federal Reserve outpaced the boffins at Martin Place, with an end of year rally still not getting it out of much danger:
On the monthly chart, the post COVID trend channel is quite evident. After trying to reach the pre-COVID peak and lofty heights of 80 cents versus King Dollar, the Aussie is looking like heading back to the depths of the COVID crisis where it hit the 55 handle:
Predictions are hard to make, especially about the future, but the weight of interest rate expectations versus the larger central banks, the upcoming recession and much lower house prices ahead domestically, let alone the slowdown or even recessionary conditions in China on the other side of the new year do not paint a pretty picture for the Pacific Peso.