Medium-term outlook good for Aussie dollar

"A combination of a weaker US dollar, a stronger global economy that leads to more buoyant commodity prices plus ongoing interest rate pick-up will provide the basis for the Aussie to do quite well for the next 12 to 18 months," said Michael Jansen, market strategist at National Australia Bank in Sydney.

"If the US dollar is going up, then typically the Aussie is going down," Jansen continued. "And it's our view that the US dollar is in a structural medium-term decline. That's the underlying