Australian Dollar to Come ‘Under Pressure’ on Rates, RBS Says

[Enivid]

The Australian dollar will come under pressure in coming months amid speculation the central bank will lower interest rates further, according to Royal Bank of Scotland Group Plc.

Australia’s key rate “will fall to 2 percent and the aussie will encounter significant yield advantage compression in the second half of this year,” currency strategists at RBS wrote in a note today.

RBS said it is sticking to its near-term target of 74 U.S. cents for the aussie, “but equally we see this rally above 70 cents unsustainable on a medium-term forecast.”

From Bloomberg News.

[2jessica]

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