Australian corporates pessimistic on Aussie
A survey by East & Partners shows Australian corporates preparing for their country's currency to weaken
Australian businesses expect the country’s dollar to weaken against four key currencies – the US dollar, the euro, sterling and the Chinese renminbi – in the first half of 2018, research from East & Partners shows.
According to the latest Australian Business Foreign Exchange Markets Program, businesses predict the Australian dollar to lose the most value against the renminbi, forecasting a 12% drop in AUD/CNY to 4.404 from the current level of 5.088 by June.
The Aussie is also expected to lose
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