Comments via Nomura on the Australian dollar accompanying the 0.78 December 2023 forecast:
- As we move through Q1 and Q2, we expect the RBA to be turning increasingly hawkish as inflation rises, and we expect China’s growth momentum to start to recover as we move into Q2, with further policy support being rolled out
- This should support a higher AUD/USD over the course of 2022.
Info via Australian Financial Review (may be gated).
AUD/USD was last circa 0.78 in May of 2021: