from 0.7167 to 0.6888. Beyond some near-term challenges, the outlook for AUD is better. Therefore, economists at MUFG Bank expect the aussie to recover by the end of the year.“We see risk potentially deteriorating further with corporate earnings coming under pressure, corporate credit worsening and inflation remaining elevated over the short-term. The speed in which the Fed and other central banks are now hiking will have a negative impact on risk, the global growth outlook and hence AUD.
“The market is currently priced for around 225 bps of RBA rate hikes which we do not believe will be delivered. But it will be similar for the If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.
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