-
Australian Dollar To Outperform the Pound and US Dollar in 2024 says TD Securities
The Australian Dollar will outperform the Pound in 2024 as Chinese growth picks up thanks to the government's stimulus efforts and the UK economy struggles, sending the GBP/AUD exchange rate below 1.90. This is according to strategists at TD Securities in their year-ahead forecast note that also envisages a steadily higher path for the Australian Dollar against the U.S. Dollar. "The PBOC will likely maintain loose financial conditions, which favours equities over fixed income," says Mark McCormick, a strategist at TD Securities in New York. "This setup benefits China proxies like AUD". The Australian Dollar ... (full story)