21.07.2015 - The fall of the Australian dollar is likely to continue

Today have been published the minutes of the previous meeting of the Reserve Bank of Australia where was noted that a further decline of the Australian dollar is likely and is necessary, inflationary pressure remain subdued, the situation on the labor market may improve, but wage growth remains low. It should be noted that tomorrow the head of the Australian regulator will make a speech that may lead to a drop of the Australian dollar to new lows. Our medium-term outlook remains negative and we recommend holding short positions with a stop above 0.75.

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