26 May 2016 at 0:55 GMT
June holds the promise of better days to come for the worst-performing major currency this month. After a 5.2% slump in May, Australian dollar declines won’t extend below the 70 US cents level in the near term as the Reserve Bank of Australia and the Federal Reserve are both unlikely to change interest rates at their June meetings, according to Westpac Banking Corp., Australia’s second-largest lender by market value. The odds favor that case as futures trading indicates a 13% probability of the RBA making a back-to-back cut in June while there’s a one-in-three chance the Fed will increase its key rate.
Read full article at Bloomberg