Westpac economist and strategist Robert Rennie with an update to the bank's fair value models for the AUD/USD

  • Model 1 cent lower last week

Citing:

  • Falling commodity prices
  • Pricing for a Federal Reserve rate hike
  • Average of fair value models is 0.7570, which is down four and half cents in the past 6 months

Rennie adds not to expect a bounce back any time soon