Australian Dollar to Strengthen After Morrison Clings to Power

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Australian Dollar to Strengthen After Morrison Clings to PowerDespite trailing in most opinion polls, Prime Minister Scott Morrison waged a relentless attack on the Labor Party’s progressive agenda to take action on climate change and strip tax perks from wealthy Australians. At the same time, the government ran on its record of economic management, across-the-board tax cuts and a return to a budget surplus. As Labor’s tax proposals are off the table, giving some relief to the housing market, and with the incumbent government being viewed as stronger economic managers, business sentiment is expected to improve, Andrew Ticehurst, Sydney-based rate strategist at Nomura Holdings Inc. said.


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