ANZ triumphs with bearish USD view
Warren Hogan, head of markets, economics and strategy at ANZ in Sydney, said the US dollar would remain weak as long as a shrinking capital account surplus continued to be unmatched by a declining current account deficit. "Weak housing was pointing to a capital outflow, which was associated with the funding of US mortgages. It also suggested import demand had declined, as slower household turnover and formation meant fewer imported manufactured goods."
Looking ahead, the Australian dealer
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