30 Oct 2013
Flash: AUD/USD could shred 25% off its value by 2016 - Societe Generale
FXstreet.com (Barcelona) - AUD/USD ended lower for a fifth consecutive day, with Tuesday's fall kick-stated by RBA Governor Glenn Stevens, who said “it seems quite likely that at some point in the future the A$ will be materially lower than it is today”.
According to Kit Juckes, Head of FX Strategy at Societe Generale: "I don’t disagree with the Governor and can easily imagine AUD/USD at 0.80 in a couple of years’ time. But I don’t think, sadly, that there will be much follow-through from today’s move and I still want to sell AUD/USD much closer to parity, much closer to the end of the year."
According to Kit Juckes, Head of FX Strategy at Societe Generale: "I don’t disagree with the Governor and can easily imagine AUD/USD at 0.80 in a couple of years’ time. But I don’t think, sadly, that there will be much follow-through from today’s move and I still want to sell AUD/USD much closer to parity, much closer to the end of the year."