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- AUD/USD: Scope for a retracement to 0.70 in H1 2022 – UOB
AUD/USD: Scope for a retracement to 0.70 in H1 2022 – UOB
In opinion of FX Strategists at the Quarterly Global Outlook from UOB Group’s Global Economics & Markets Research, AUD/USD could recede to the 0.7000 neighbourhood in the first half of 2022.
Key Quotes
“AUD/USD had a tumultuous quarter, weighed by a surge in coronavirus cases in Australia, a 44% slump in iron ore prices and standout dovishness of the RBA relative to its G-10 peers.”
“As such, we keep to our cautious view on AUD/USD and update our forecasts at 0.71 in 4Q21, 0.70 in both 1Q22 and 2Q22, and 0.69 in 3Q22.”
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