UBS target of 0.65 for AUD/USD.

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UBS keeps its bearish estimate on AUD/USD with a target of 0.65 on a 6 and 12-month basis. The prediction was made after the Reserve Bank of Australia (RBA) dovish statement on February 1. RBA kept the cash rate unchanged at 2%. According to UBS analysts, the RBA seemed satisfied with domestic conditions pointing at solid employment growth. As per the announcement by RBA, it considers to change the inflation forecast on February 5 Statement on Monetary Policy.


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