A morning foreign exchange rate note from Barclays Capital has noted that the investment banks fair value model suggests the downside risk to the AUD/NZD is likely to be limited and the bank therefore maintain their medium-term forecast of 1.26.
Relative Australia and New Zealand data and likely interest rate trajectories point to further downside in Australian dollar / New Zealand Dollar from current levels.
New Zealand data have, on average, beaten expectations more often than Australian data in recent months, pointing to the risk of a fall in AUD/NZD to around 1.25 by end-March.
New Zealand data have, on average, beaten expectations more often than Australian data in recent months, pointing to the risk of a fall in AUD/NZD to around 1.25 by end-March.
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