Exchange rate analysts generally remain unchanged on the Australian dollar and New Zealand dollar, and expect the two preparations.
The Australian dollar is now under further downward pressure; it hit a two-and-a-half-year low of $0.7021 last month, down nearly 8% since the beginning of the year.
The surge in U.S. Treasury yields, coupled with hawkish talk from Federal Reserve officials, also led to a more comprehensive rise in the dollar. In contrast, the RBA has repeatedly reiterated that interest rates will remain at a low level for some time to come.
Many analysts have long expected the Australian dollar to fall sharply, but the Australian dollar has been supported by strong local data and interest rate trading; however, in recent weeks, the Australian dollar has been hit by the shadow of the Sino-US trade war, with a $0.70 cut-off.
"The long-awaited pressure on the Australian dollar has finally come true," said Daniel Been, head of foreign exchange research at ANZ, which is short of the Australian dollar.
"Domestic data are more positive, but this is basically being digested. Importantly, the global environment continues to dominate the trend, and we believe that a series of risk events may hit the Australian dollar, including the U.S. -China trade situation, Britain's separation from Europe and the mid-term elections in the United States.
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