FXStreet reports that economists at Westpac discuss AUD/USD prospects.

“Our base case remains for the Aussie to trend higher, to 0.80 by end-Q3 and 0.82 by year-end.

“A$ should benefit from anticipation of synchronised global recovery over 2021. However, A$ is the weakest G10 currency over the past month, reflecting the RBA’s aggressive balance sheet expansion (QE exceeding the pace of debt issuance) and perhaps also investor anticipation of China-related headwinds for Australian exports and FDI beyond the current resources boom.”

“Australia’s sluggish vaccine rollout also puts a limit on the breadth of economic recovery from the pandemic.”