ANZ Research discusses AUD/USD and EUR/USD outlook.
"The post-Jackson Hole environment looks less USD positive, which should help the AUD to recover some ground over this month. That said, we no longer think that it can reach its 2021 high again. We now forecast a USD0.75 peak in the AUD," ANZ notes.
"If our view on vaccination programs and growth is correct, that timeline should be consistent with a steeper US yield curve. Ultimately, that should be aligned with a weaker USD, and we maintain our profile for modest EUR/USD appreciation. A sustained break below 1.16 is needed to really challenge that view," ANZ adds.