Markets: Dollar drop over?

Westpac's chief economist thinks the Aussie dollar has hit its trough, and an August rate cut is still on the cards.

Bill Evans says the Australian dollar has reached its trough. Westpac’s chief economist expects the Aussie dollar to “go back up again” against the US dollar, as “bad news has already been priced into” the currency. 

“The idea the dollar goes to 80 [US cents] is unlikely,” Evans told Markets Spectator.

“We’ve had a turning point.”

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