As per the attached post, i remain dovish/ bearsh on aussie$, and i continue to expect a cut to 1.50% (25bps) this year given i expect their to remain stagnant. Clear targets are 0.73 when probability of a cut is higher - though i would enter shorts regardless if AUD$ could find its way to its 12m highs at 0.78, though unlikely.
I like USD strength in the medium term too hence supporting the short Aussie dollar view
RBA Minutes Highlights:
RBA MINUTES: BOARD TO WATCH KEY DATA, WILL MAKE ADJUSTMENT TO RATES IF NEEDED; REVIEW OF FORECASTS IN AUG WILL HELP STEER POLICY
- set to stay low for some time, employment mixed, retail sales look set to pick up
- Stronger AUD would complicate economic rebalancing
- Economic transition is now well advanced