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8 May 2013
Forex Flash: AUD/USD, look for support around 1.0115 to hold - BNZ
FXstreet.com (Barcelona) - In view of Mike Jones, currency strategist at Bank of New Zealand, another RBA rate cut would look too much, a statement that contradicts their colleagues at NAB, still expecting another 25bps cut in June.
Mike adds: "We are not rushing to revise lower our AUD forecasts, rather, we look for support around 1.0115 to hold. This has not been tested yet, with overnight AUD/USD losses only extending as far as 1.0160 (from 1.0240 prior to the RBA)."
Mike adds: "We are not rushing to revise lower our AUD forecasts, rather, we look for support around 1.0115 to hold. This has not been tested yet, with overnight AUD/USD losses only extending as far as 1.0160 (from 1.0240 prior to the RBA)."