AUD/PKR Outlook: The outlook for AUD/PKR is slightly positive but likely to move sideways, as the rate is above its recent average and lacks a clear driver for further gains.
Key drivers:
• The Reserve Bank of Australia has indicated a cautious approach to interest rates but discussions around potential rate hikes can support the Australian dollar.
• Rising commodity prices could bring additional support to AUD, especially if maintained in the face of heightened volatility in risk appetite.
• The Pakistani rupee is currently experiencing appreciation against the US dollar, promoting better market confidence despite broader economic challenges.
Range: AUD/PKR is likely to drift within its recent range as fluctuations continue without any strong directional bias.
What could change it:
• An unexpected rate hike by the RBA could bolster AUD significantly.
• Heightened concerns about inflation or a significant drop in commodity prices could pressure the AUD lower against the PKR.