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Top forecaster sees Aussie below $1 on RBA cut
Australia’s dollar will fall below $1 this year as a slowing economy and less Federal Reserve bond buying narrow the nation’s yield advantage, according to the currency’s most-accurate forecaster. The so-called Aussie will weaken to 99 U.S. cents by Dec. 31, from $1.0484 as of 12:24 p.m. in Sydney, according to Bank of New Zealand, which had the lowest margin of error at 2.69 percent in the past six quarters as tracked by Bloomberg Rankings. The lender is a unit of Melbourne-based National Australia Bank Ltd. Ten-year yields are near a seven-week low relative to U.S. Treasuries with swap-market traders betting ... (full story)
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