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