AUD/USD: Hard to be bullish - Goldman Sachs

Bloomberg is out with the latest price-outlook for the Aussie from Philip Moffitt, Asia-Pacific head of fixed income at Goldman Sachs Asset Management, with the key points found below.

‘It’s hard to be bullish on the Aussie, which will decline to 72 U.S. cents by year’s end.

There’s going to be a pretty decent period of sluggish growth without much inflation Down Under.

Australia still has slack in the labor market -- put all of these factors together and we’re a few years behind the U.S. on rates.”