ANZ Bank raised the forecast for the Australian dollar against the US dollar (AUD / USD) to 0.83 in mid-2018, expecting the Reserve Bank of Australia (RBA) to join the global interest rate hike, according to strategists Daniel Ban and Julia Lavigny Specchia , which they write about in a note to customers. By the end of the year, AUD / USD will rise to 0.81 USD compared to the previous forecast of 0.73. It is projected that the pair will reach 0.83 by June 2018, compared with the previous forecast of 0.72. From there, the rate will resume its decline to 0.74 by December 2018 and will return to its original level of 0.70 by June 2019.
It is expected that the RBA will join the global cycle of tightening monetary policy, given that the growth of the world economy is becoming stronger and more widespread than before. The redistribution of resources after the boom in the mining industry, which required unusually low interest rates, is coming to an end. Since the last audit, there have been two key changes in the forecast. The outlook for the Australian economy has improved. The overall position of the US dollar has deteriorated significantly. The growth potential is limited by the possible tightening of the RBA tightening policy, and by the fact that the negative attitude towards the dollar looks excessive.