Flash: Evidence for AUD/USD resilience? – Westpac

FXstreet.com (New York) – As for the AUD closer to home, we still see reasons to expect the net damage to AUD/USD from global turmoil to be limited, suggests Global FX Strategist Sean Callow at Westpac.

Key quotes

“Australia’s key commodity prices continue to trend higher without the usual response on AUD. The index shown does not include iron ore prices, which are also resilient. Demand for commodities highlights that investors are not slashing their expectations for global economic growth in response to the sharp losses in numerous (though by no means all) EM currencies.”

“To be sure, the positive export outlook …read more