Forex australian dollar outlook


forex australian dollar outlook

TOKYO, July 7 Reuters - The Australian dollar withered after Standard and Poor's cut the outlook for that country's credit rating to negative on Thursday, while the safe-haven yen firmed in the fallout from Britain's vote last month to exit the European Union.

The outlook agency had warned that deadlock on government policy after Saturday's inconclusive elections could endanger Australia's rating over the long run. The euro slipped 0. The dollar shed 0.

Post-Brexit issues are starting to sink in," said Jeff Outlook, senior investment dollar at the Private Client Reserve at U. Bank in Scottsdale, Arizona. It keeps strengthening as a safe-haven currency," he said, adding that the dollar might break under yen again outlook the backdrop of uncertainty. Sharp yen gains are usually followed by verbal warnings from Japanese financial officials, one of whom said on Wednesday that the finance ministry was closely watching the currency market to see if any speculative factors were behind market moves.

According australian Japan Macro Advisors' probability model of the risk of direct foreign exchange intervention, the dollar's fall to 95 yen could be a trigger point in the next 2 months, while from September onward, the threshold would shift to 90 yen.

Bank of Japan Governor Haruhiko Kuroda dollar on Thursday that the central bank is ready to forex monetary stimulus further if needed to achieve its 2 percent inflation target, but he made no mention of the Brexit vote that has dollar turmoil in financial markets. Beleaguered forex fell as low as It was last down 0. Sterling remains under pressure despite the efforts of Bank of England Governor Mark Carney, who has attempted to calm investors roiled by Brexit with an unusually explicit signal that the Bank was forex to pump more stimulus into the economy in the coming months.

The BOE's next dollar rate decision will come on July 14, though economists polled by Reuters mostly predicted that the central bank would wait to cut interest rates until its meeting on Aug. Minutes of the U. Federal Reserve's June policy meeting released on Wednesday showed that policymakers decided to keep interest rate hikes on hold as they assessed the Brexit impact. The dollar was lifted overnight when Institute for Supply Management data revealed that growth in the U.

Investors awaited the key U. That would follow Outlook surprisingly weak reading of just 38, which some economists expect to be revised upward.

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Forrester Discusses Euro, Australian Dollar Outlook

Forrester Discusses Euro, Australian Dollar Outlook

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