Analysts have again upgraded forecasts for the Australian and New Zealand dollars in the latest Reuters poll, but still lag the market as investors increasingly wager on a lasting downtrend for their U.S. counterpart.
FILE PHOTO: Australian dollars are seen in an illustration photo February 8, 2018. REUTERS/Daniel Munozat $0.7000 on a one- and three-month horizon, compared with $0.6800 in the previous poll. The market, however, already has the Aussie at $0.7195, having just hit an 18-month top of $0.7241.
That has gifted Australia with its largest current account surplus in decades, providing a net trade inflow to the Aussie. “Our forecasts have been revised to reflect our increased conviction that the recent weakening in the USD is ‘for real’ and has a fair way to play out over the coming couple of years at least.”
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