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Top Forecasters See Aussie Gains as Rates Cut
Australia’s dollar will rebound by year-end on demand for the world’s highest-yielding AAA assets even if the Reserve Bank cuts interest rates to a record, according to the currency’s most-accurate forecasters. The so-called Aussie will climb to $1.05 by Dec. 31, from $1.0268 at 12:54 p.m. in Sydney, according to Credit Agricole CIB, which had the lowest margin of error for the past six quarters as tracked by Bloomberg Rankings. Second-rated National Australia Bank Ltd., which has the weakest end-2012 projections among the top five forecasters, sees the local dollar at parity by Dec. 31. The median prediction ... (full story)
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