Senior Analyst at Danske Bank Aila Mihr sees the Aussie Dollar facing headwinds in the near term.
“In Australia, PM Scott Morrison won re-election, although the incumbent Labor Party had been widely expected to win. With his election, the focus of economic policy turns to helping the housing market, prospects of tax cuts and infrastructure investment”.
“Given a struggling economy, an expansive policy would be helpful but the timeline remains uncertain. We expect the AUD to struggle in the coming months”.
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