Will the Australian Dollar fall below $0.70?

Two of Australia's largest asset managers are arguing about whether the Australian currency will break the psychological limit of 70 US cents.
The Australian dollar will fall below this level by the middle of next year if Australian government bond interest rates fall below the US bond yields, according to analysts from QIC Ltd., managig assets worth $63 billion.
On the other hand, according to analysts from AMP Capital Investors Ltd., managing assets worth $137 billion, the Australian dollar will hold above the 70-cent psychological limit due to the strong growth of the Chinese economy, Australia's main trading partner.
The Australian dollar declined by about 6 per cent on its highest value in September after the two-year Australian bond premium fell for the past month against the US for the first time since 2000.
In addition, mixed economic data in the country is expected to cause the Australian central bank to refrain from raising interest rates, which are currently at a record low of 1.5%.
For the last time, the Australian dollar traded below 70 cents to the US in February of 2016.