AUD/USD since float: Number of days in each 5 cent bucket

Overview:

• In 2017 AUD/USD spent more than 80% of the year above 0.75 and below 0.80
• AU-US rates differentials are an important driver of the AUD/USD and NAB FX strategist think they are likely to be a downward force on the currency in 2018
• The risk is that the AUD/USD spends more time in the 0.70-0.75 range during 2018, its second most frequented 5-cent ‘bucket’ during the 34 year history of the floating exchange rate
• AUD/USD has spent ~45% of its (floating) life above 0.70 and below 0.80 and about the same time above 0.80 as below 0.70 (~27.5% each)