HSBC warns of dollar drop to US66c amid challenges

Original article by Sarah Turner
The Australian Financial Review – Page: 31 : 15-Feb-19

The Australian dollar is currently trading at around $US0.70, but HSBC says the latest economic data means it is unlikely to rise above this level. HSBC is particularly bearish about the outlook for the dollar, forecasting that it will test the $US0.66 level by the end of 2019. The Commonwealth Bank in turn has scaled back its year-end forecast for the currency from $US0.75 to $US0.72, citing factors such as the outlook for both global growth and the Australian economy.

CORPORATES
HSBC AUSTRALIA HOLDINGS PTY LTD, COMMONWEALTH BANK OF AUSTRALIA – ASX CBA, RESERVE BANK OF AUSTRALIA

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