NEVER WINNING A TRADES MUST BE HARD
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HSBC explains why the Aussie dollar will tumble again this year
The Australian dollar was hosed last year, falling close to 10% against the greenback, the largest decline of any G10 currency. HSBC Currency Strategist Tom Nash thinks a similar fate awaits the Aussie dollar this, reaffirming his view that the AUD/USD will slide to 66 cents as we enter 2020. However, unlike 2018 when broad-based US dollar strength and, towards the end of the year, global growth concerns, acted to drag the Aussie lower, Nash says the main factor that will undermine the Aussie this year will be far closer to home: potential spillover effects from the unwind in Australia’s housing market boom. ... (full story)