AUD/USD: Upside, but choppy path ahead – MUFG

In June, the Australian Dollar appreciated against the US Dollar in from 0.6472 to 0.6657. Economists at MUFG Bank analyze AUD/USD outlook.

The scale of increase in AUD/USD as the Fed shifts to easing will still be relatively modest

A choppy path higher for AUD/USD is likely and given downside risks emanating from China and challenging global growth, the scale of increase in AUD/USD as the Fed shifts to easing will still be relatively modest.

AUD/USD – Q3 2023 0.66 Q4 2023 0.68 Q1 2024 0.67 Q2 2024 0.65