Analysts again upgraded forecasts for the Australian and New Zealand dollars in the latest Reuters poll, but they still lag the market as investor risk appetite gets a boost from hefty central bank stimulus.
Yet the poll shows analysts doubt the rally can get much further, putting the currency at US$0.7300 in six months and US$0.7400 in one year amid expectations monetary policy will remain accommodative for a long time to come. Also supporting the Aussie is the relative outperformance of the Chinese economy, which continues to suck up Australian resources in a boost to prices for key exports including iron ore.
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