This US bank makes a bold call on the $A

Morgan Stanley says investors should be buying up the Australian dollar and dumping the greenback because the US Federal Reserve will cut interest rates more aggressively than expected and American trade tariff concerns are overblown.

The US investment giant’s bullish call is in stark contrast to Australia’s biggest lenders, with both Commonwealth Bank and National Australia Bank warning the Aussie could plunge below US60¢ next year.