Bank sees potential for the Australian dollars to get stronger

Strengthening dollar: The Reserve Bank of Australia’s five dollar note coming off a printing press. Swiss bank, UBS, says that a slowing US economy and growth Down Under will trigger a rally in the Australian currency and sees potential for it to strength through to the end of the first quarter next year. — AFP

SYDNEY: A slowing US economy and brisk growth in Australia will trigger a rally in the Australian dollar, to levels last seen more than a year ago, UBS Group AG’s head of currencies in Asia said.

After rebounding from a two-year low set last month, the Aussie dollar could rise 11% from that level to as high as 76 US cents (RM3.34) by the end of December.