Divergences in monetary policy often lead to long-term currency trends and that's why the Australian dollar is so interesting heading into 2024.Most global central bankers are in the midst of a pivot and the Reserve Bank of Australia will probably follow but there is a good chance they don't. Inflation is higher in Australia, housing prices haven't fallen and the RBA 4.35% cash target rate trails the Fed and Bank of Canada.That's why the market is betting that the RBA will be slower to cut with just 51 bps in easing priced in next year compared to 154 bps in the US.If the global economy accelerates and particularly if China delivers some economic stimulus, then there's a good chance the RBA
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