Australian Dollar: RBA risks and carry support – BBH
Brown Brothers Harriman’s (BBH) Elias Haddad notes the Australian Dollar (AUD) largely ignored the Reserve Bank of Australia's (RBA) August Minutes, which reiterated Governor Michele Bullock’s warning that another rate hike is quite possible.
Brown Brothers Harriman’s Elias Haddad reports the Australian Dollar largely disregarded the Reserve Bank of Australia’s August Minutes warning of potential further rate hikes. Futures suggest a 60% chance of a final 25bp hike to 4.60% by year-end. Risks seem to favor an extended pause, but Australia’s carry advantage and strategic commodity exposure are significant AUD catalysts.
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