Market news
29.03.2021, 08:02

AUD/USD to surge higher to 0.79 by end-June – Westpac

FXStreet reports that economists at Westpac forecast the aussie at 0.79 by the end of the second quarter.

“An extension to 0.7500 or below is plausible so long as the US dollar draws support from an economic rebound fuelled by a huge fiscal injection and rapid vaccine rollout. But our base case remains for the Aussie to trend higher, to 0.79 by end-Q2 and higher again in H2 21.”

“Australia continues to run historically very large trade surpluses, with Q1 set to be the eighth consecutive quarter of current account surpluses. A$ should benefit from anticipation of a synchronised global recovery over 2021, especially in Asia.”

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