Rabobank: The Australian dollar may rise further due to rate hike prospects

Golden Ten Data reported on April 16 that Rabobank analyst Jane Foley stated in a report that given the possibility of further rate hikes by the Reserve Bank of Australia, the Australian dollar has further upside potential. She noted that, encouraged by another round of strong labor market data on Thursday, the market has fully priced in expectations for another 25 basis point rate hike within three months. She pointed out: "While the US dollar continues to be driven by sentiment related to the Middle East conflict, with the potential for significant volatility, we expect the euro against the Australian dollar to fall further, returning to the March low near 1.6130."