Bank of America FX Strategy Research believes thatthe magnitude of AUD depreciation over the remainder of 2017 could be substantial and primarily driven by demand-driven slowdown in export values. BofAML's bearish view on AUD is in line with its economists' call on Chinaas they continue to believe that cyclical growth momentum has peaked out and will weaken in 2H as the impact of policy tightening kicks in. "Two indicators that we track in the context of Australia are consistent with this:1)High frequency steel production rates published three times a month declined through April at a nationwide level, although the ... (full story)