With the FOMC determined to raise rates to combat inflation, USD...

With the FOMC determined to raise rates to combat inflation, USD is bound to remain strong. Consequently, I am expecting AUD to drop further against USD.

AUD is weak simply because the RBA has consistently dragged its heels about raising the cash rate, too late and too low.

If the RBA continues to perform (or underperform) in the same way that it has done for the last few years then AUD will remain weak.

If FOMC's next move is 0.75% as many expect, or even turns out to be 1% as some are starting to forecast, then there will be strong pressure on the RBA to change up a gear, although I confidently predict that it won't.