Have we been trading on false hope?
October 2019 Currencies have been driven by two, perhaps forlorn, hopes this month. First, the expectation that the US and China will reach a phase one agreement on trade. Secondly, that a Brexit deal will be finalised. Phil Dobbie asks NAB’s Ray Attrill whether sentiment has been too positive on both. After all, we’ve still waiting for evidence that a trade agreement will be reached and, even though the UK parliament passed the first stage if the Brexit Withdrawal Agreement, they refused to agree to the rapid timetable Boris Johnson was setting. So what does that mean for the Aussie dollar, as further uncertainty seems almost certain.