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AUD, NZD forecasts revised lower - HSBC

FXStreet (Bali) - HSBC forecasts for the AUD and NZD have both been revised lower at 0.86 and 0.77 by year-end respectively.

Key Quotes

"Our forecasts for the AUD and NZD have both been revised lower, in part because of extra efforts locally to engineer a weaker currency. In contrast to other G10 nations, this aspect of the currency war is being driven by the more traditional issue of balance of payments adjustment rather than as a tool to combat deflation."

"New Zealand’s economy may be improving and further rate hikes are likely in 2015, but we would not fight the central bank’s desire for a softer currency. Australia’s rebalancing is moving slower than they would like, and the RBA will likely continue to counteract AUD rallies with verbal intervention."

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