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Australia’s dollar will fall to a six-month low should it drop past a key technical level as bets the Federal Reserve will raise interest rates next year boost demand for the greenback, according to IG Group Holdings Plc.
The Aussie will probably drop to 90 U.S. cents if it closes below 92 cents for the first time since March, said Chris Weston, chief market strategist in Melbourne at IG Australia, a unit of IG Group. The currency traded below its 200-day moving average today for the first…
Australia’s dollar will fall to a six-month low should it drop past a key technical level as bets the Federal Reserve will raise interest rates next year boost demand for the greenback, according to IG Group Holdings Plc.
The Aussie will probably drop to 90 U.S. cents if it closes below 92 cents for the first time since March, said Chris Weston, chief market strategist in Melbourne at IG Australia, a unit of IG Group. The currency traded below its 200-day moving average today for the first…