Via a note from Rabobank in London:AUD ... wild ride in the past few weeksbetween mid-July and the start of this week, AUD/USD retraced all of the gains that it had made since late April, before showing signs of recoveryreasons for the swings are linked both to a change in expectations regarding RBA policy and to the AUD’s traditional role as the ‘higher risk’ currency within the G10, which left it out of favour in the recent market ructionsRabo like AUD:Australia’s good fundamental backdropAustralia’s inflation outlook, this continues to imply that the RBA is one of the most hawkish central banks within the G10"Consequently, we maintain our 6-month forecast of AUD/USD 0.70""The hawkishness
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