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Forex Flash: AUD unlikely to break $US1.1080/85 record highs in 2013 - TDS

By FXstreet.com,  January 10, 2013, 09:00:00 PM EDT

FXstreet.com (Barcelona) - According to Annette Beacher, Head of Asia-Pacific Research at TDS, both the Australian and New Zealand Dollar prospects for 2013 are constructive, yet not as much as to predict fresh post-float record highs, in the case of the Aussie.

Ms Beacher notes: "Rather than forecast a further substantial rally from here, however, we forecast 'more of the same' for the Antipodeans that we've seen over the last two years, with 2013 averages to be around $US1.03 and $US0.83 respectively."

"Lofty claims that the AUD can top $US1.20 or higher, for example, we believe is wide of the mark" says Annette. She reminds us that the extraordinary levels the AUD achieved vs the USD at $US1.1080/85 in late July 2011 were "a combination of a debt-laden anti-USD trade and a strong Australian inflation report raising expectations of an imminent RBA hike."

"While we certainly cannot rule out another bout of the former, the latter has a very small probability" the Analyst concludes.




The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of The NASDAQ OMX Group, Inc.


This article appears in: Investing, Forex and Currencies

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