The Australian dollar may fall to 0.70
The price of the Australian dollar continues to decline after the publication of statistics on the reduction of private investment in Australia by 9.2% in the third quarter against the previous period. Analysts had forecasted a decline of 3.0%. In the first nine months of this year, investments decreased by 20%. The slight improvement in commodity markets can support the Australian dollar, but the medium-term trend remains negative and the expected tightening of monetary policy in the US will lead to a drop of the Australian dollar to 0.70, 0.59 and 0.68.
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