The overall case for Australian dollar weakness is still in place with a steady interest rate outlook in Australia and a diminishing interest rate spread against the U. S..
More Quotes from Nick Bennenbroek:
The dollar bulls have the upper hand. It increases the chances that they keep on going, and that's what is boosting the dollar.Nick Bennenbroek
At the start of the year, the investment community was very bullish on Asia, ... The currencies' performance is clearly surprising.
Nick Bennenbroek
Interest-rate support for the Australian dollar will lessen quite substantially as the year progresses. We see a steady outlook from the Reserve Bank of Australia and a higher Fed rate.
Nick Bennenbroek
The key thing is that, while this doesn't take away inflation concerns, it mitigates some of them and makes the 'measured' approach ... an even more likely response from the Federal Reserve.
Nick Bennenbroek
The news in general was still favorable, but the focus is on what's next. People aren't only looking at the progress in the war in Iraq, they're starting to think about what's going to come after.
Nick Bennenbroek
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