Aussie dollar may drop in value in coming months
The Australian dollar may drop in value in the coming months as its volatility range against foreign currencies continues to subside, according to research by OzForex.
The volatility of the Australian dollar has continued to fall since unprecedented highs in 2008.
Manager of corporate business Jim Vrondas said OzForex expects the downward trend in volatility to continue through to 2010, suggesting the dollar will be due for a downward correction in the coming months.
Vrondas also said forecasts for an interest rate rise by the end of the year are too aggressive.
“We believe the Reserve Bank of Australia will be waiting for an uptick in inflation before considering a rate rise from the current historical lows … increasing rates at this point would be a dangerous act that could hinder any further economic growth,” he said.
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