Westpac foreign Exchange news - 22 May

In this video Westpac's Head of Global FX and Commodities Strategy, Robert Rennie, discusses the factors that have weakened the Australian dollar through this week including the recent drop in iron ore. Next week should be another quiet week in foreign exchange markets and the key focus will be on the revision to US Q1 GDP. It’s a holiday in the US and UK on Monday so markets will be quiet. Robert expects the Australian dollar to remain in a 0.7850 to 0.8000 range next week. Westpac expects the dollar to weaken into year-end where a drop to 0.7300 is possible.

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