Best Forecaster Says Buy the Aussie Dollar
- Improving U.S.-China relations to boost currency, Tempus says
- AMP says widening policy divergence will drag Aussie down
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Australia’s dollar is set to rally as easing U.S.-China trade tensions bolster risk assets, according to the currency’s top forecaster. Funds including AMP Capital Investors Ltd. and QIC Ltd. are bearish.
The Aussie’s recent declines are overdone and it will strengthen about 5 percent to 74 U.S. cents by year-end, said Juan G. Perez, senior foreign-exchange trader and strategist at Tempus Inc., part of the Monex Group that submitted the most accurate prediction for the currency in Bloomberg’s first-quarter rankings.