Building long AUD/NZD positions with less risk
Background
We continue to expect the Australian dollar to
appreciate against the New Zealand dollar over the medium term, and forecast the AUD/NZD exchange rate to be above 1.3000 by the year-end. The AUD/NZD spot exchange rate was 1.2136 on Friday August 11.
Our forecasts largely rest on the outlook for the economy, interest rates and external balances. The Australian economy is robust, with GDP growth expected to continue to rise to above trend. However, NZ economic growth is expected to
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