Business
Westpac (ASX:WBC) tips Australian dollar to hit 80 US cents in 2021
The Australian dollar has been a strong performer in recent months and climbed to a 30-month high against the U.S. dollar last week.
While this is great news for importers and international travellers (when they can travel), it is the opposite for exporters like Graincorp Ltd (ASX: GNC) and those that generate the majority of their sales in U.S. dollars such as Appen Ltd (ASX: APX).
The bad news for the latter group is that the economics team at Westpac Banking Corp (ASX: WBC) is tipping the Australian dollar to continue to strengthen.
What is Westpac saying?
According to the latest Westpac Weekly economic report, its team believe the Australian dollar is on track to hit 80 U.S. cents in 2021.
Westpac’s Chief Economist, Bill…
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