Aussie bulls face disappointment on long road to pandemic high

The central business district skyline from the suburb of Balmain in Sydney, Australia.. (Image: Bloomberg)

Mon, 27 May 2024

(Bloomberg) -- Traders hoping the Australian dollar will strengthen beyond a closely tracked level are set to be disappointed as optimism over China’s rebound fades and the local economy falters.The currency has risen over 2% in May, potentially heading for its best month this year. However, it may struggle to rally further as Australia will be reluctant to raise interest rates and China continues to underwhelm with its economic support, analysts say.Such headwinds signal that the Aussie will likely once again fail to break through the ke...

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