Did Westpac lower AUD forecast in 2022?

That same month–September 2022–Westpac’s chief economist Bill Evans released a statement saying Westpac had “lowered [its] forecast for the AUD by year’s end from USD 0.69 to USD 0.65”. On December 31, 2022, the Australian dollar was worth 68 US cents.

How does the AUDUSD news affect the economy?

The AUDUSD news can be seriously affected by the decisions taken by these organizations and people: Reserve Bank of Australia (RBA) that issues statements and decides on the interest rates of the country. Its president is Philip Lowe. Australian Government and its Department of Finance that implement policies that affect the economy of the country.

What happened to AUD/USD?

The AUD/USD pair kept falling in the last few days, reaching a fresh multi-week low of 0.7263 on Friday, to close the trading week a handful of pips above it. EUR/USD rebounded during the American session and climbed to 1.0715 as the US Dollar retreated, accompanied by lower Treasury yields.

Is the AUD/USD exchange rate in agreement with the Big Four?

Other banks in the Big Four were in agreement, with Westpac forecasting the AUD/USD exchange to reach 0.70 by June 2023. That view was optimistic, with the exchange rate coming in at 0.66 as of July 7. In July, the Australian dollar steadied around $0.667 despite the RBA voting to hold the cash rate steady at its July Board meeting.