FXstreet.com (San Francisco) - AUD/USD is set to end the week with a 0.9% loss, but maintains a generally positive tone heading into the final week of September. The poor economic data from China and sobering warnings from the mining sector have fueled suspicion of AUD’s ability to hold firm, according to Rabobank International.
Rabobank says in a research note: “We would argue that main reason for the recent positive momentum behind AUD/USD is related to broad-based USD weakness. While the softness of the greenback is likely to continue supporting AUD/USD into 2013, we expect that the currency pair will struggle to push back to the year’s highs in the region of AUD/USD 1.08.”
At the time of writing, AUD/USD is quoted at 1.0465.
Rabobank says in a research note: “We would argue that main reason for the recent positive momentum behind AUD/USD is related to broad-based USD weakness. While the softness of the greenback is likely to continue supporting AUD/USD into 2013, we expect that the currency pair will struggle to push back to the year’s highs in the region of AUD/USD 1.08.”
At the time of writing, AUD/USD is quoted at 1.0465.
