Australian dollar forecast to outperform towards year-end, soft landing for Chinese economy will be key
- Category: Australian Dollar News
- Written by Will Peters
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The Pound declined against the Euro this morning, falling back towards 1.2450, while the UK currency slumped towards a new low under 1.58 versus the U.S Dollar.
A warning from Bank of America Merrill Lynch has today said the Australian economy will struggle to rebalance away from the the mining investment boom.
Residential building approvals had a solid correction lower after a strong rebound in July. The Australian dollar was weaker as this data combined with the latest trade figures gave markets the jitters.