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2026-11-03 18:06:28
[Institutions Bullish on Australian Dollar, Carry Trades Gain Attractiveness] ⑴ ING analyst Pessoll stated in a report that the Australian dollar's outlook remains positive despite the Reserve Bank of Australia's (RBA) unlikely further rate hikes. ⑵ He indicated that the Australian dollar offers the best short-term yield among G10 currencies for carry trades involving borrowing low-interest-rate currencies to buy higher-interest-rate currencies. ⑶ He stated that despite slightly challenging conditions due to AI-related anxieties, the Australian dollar should rise to US$0.710 by the end of the year. ⑷ The RBA raised interest rates by 25 basis points to 4.85%, but this was a non-unanimous decision by a 6-3 vote. ⑸ The central bank also removed statements regarding future policy tightening. ⑹ Institutional data shows that the Australian dollar fell 0.4% to a two-week low of US$0.6960.
