It's All Starting to Look Glum for the Australian Dollar

Nomura recommends shorting the currency amid political risk
AMP Capital sees Australia’s dollar falling to 65 U.S. cents

JPMorgan’s Auld Sees RBA Cutting Rates Twice by Year’s End

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By Ruth Carson

May 16, 2019 at 8:30 PM UTC

Updated on

May 17, 2019 at 7:04 AM UTC

This article is for subscribers only.

Australia’s dollar is under siege from an upcoming election, a trade war and a faltering economy.

Nomura Holdings Inc. advocates a short position ahead of Saturday’s general election. QIC Ltd. has advised pension-fund clients to sell the Aussie against the dollar and yen, while AMP Capital Investors is equally pessimistic. The currency has declined around 2.3% this month to under 70 U.S. cents as optimism that trade frictions will be resolved evaporated.