ecent chatter around the potential for the NZD/AUD to trade to parity, provides a good backdrop to revisit our core NZD/AUD views. In our 2014 FX Outlook published in mid-December, we forecast NZD/AUD to average 0.9250 in H1 2014 and 0.9175 in H2 before returning to trade below 0.9100 in 2015. At the time NZD/AUD was trading around 0.9250. Subsequently it has pushed up to a high of 0.9500 on Jan 24. Notwithstanding this move to new 8-year highs, we maintain our previous forecasts.
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BNZ