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Best Forecaster Says Buy the Aussie Dollar
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. “Developments in trade are what can turn the tide, and fast,” Washington-based Perez said ... (full story)