The Australian dollar could be one of the biggest beneficiaries from US President Donald Trump’s continued attack on the independence of the Federal Reserve, which has already unnerved financial markets and significantly weakened the greenback.
Bank of America said of the world’s 10-most-traded currencies, buying the Aussie was the best way to trade the weakening US dollar. The Australian dollar could climb to as much as US69¢, from US64.61¢ currently, it said.
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