12 Feb 2014
Flash: AUD/USD seen at 0.8800 in 3 months - UBS
FXStreet (Córdoba) - The UBS analysts have lowered their 3-month AUD/USD forecast to 0.8800 as they are convinced the Aussie is on a longer-term downtrend.
Key quotes
"We currently do not see a catalyst for another leg down of the AUD/USD, as Australia's business sentiment is on an improving trend and the Reserve Bank of Australia has stopped calling the AUD 'uncomfortably high', but we remain convinced that it remains on a longer-term downtrend".
"Accordingly, we roll over our three-month forecast to 0.88 (prev. 0.90), while maintaining our six- and twelve-month forecasts unchanged at 0.88 and 0.85, respectively".
Key quotes
"We currently do not see a catalyst for another leg down of the AUD/USD, as Australia's business sentiment is on an improving trend and the Reserve Bank of Australia has stopped calling the AUD 'uncomfortably high', but we remain convinced that it remains on a longer-term downtrend".
"Accordingly, we roll over our three-month forecast to 0.88 (prev. 0.90), while maintaining our six- and twelve-month forecasts unchanged at 0.88 and 0.85, respectively".