Currency Analysis Report 6-20-19…Targeting $0.65 For The Aussie Dollar

BlackRock Inc. is shorting the Australian dollar on a bet the central bank will cut interest rates to as low as 0.5% to revive the struggling economy.The Aussie will extend recent declines and probably fall as low as 65 U.S. cents next year, said Craig Vardy, head of fixed income for Australia in Sydney at BlackRock, which oversees $6.52 trillion. The Reserve Bank of Australia will keep easing as the economy cools and U.S.-China tensions weigh on global growth, he said.BlackRock isn’t alone in expecting the RBA to keep easing. Franklin Templeton Investments and JPMorgan Chase & Co. say Aussie

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