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Hardy: My Aussie Dollar prediction
The Aussie Dollar's at three year lows against its US counterpart. It's expected in many quarters that the Reserve Bank will cut interest rates at a meeting on Tuesday. John Hardy, Saxo Bank's Head of FX Strategy, says he's very bearish on the Aussie, long term.
John says Aussie Dollar "bears" were put in an uncomfortable position last week when disappointing data from the US led to a softening of the Greenback. But looking ahead, he sees much more weakness and that a rate of 75 to the dollar in a year's time is entirely possible. Of course, there are many variables which could influence the rate, notably in the shorter term.
01:14 minutes
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