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Foreign exchange analysts downgraded their forecasts for the Australian and New Zealand dollars a month ago, according to a Reuters survey, but still forecast a moderate rebound in the two currencies by the end of 2019, as the ongoing Sino-US trade dispute is accompanied by many uncertainties.
The median forecast of 53 analysts interviewed by Reuters shows that the Australian dollar is expected to be reported at $0.7100 in a month's time, compared with $0.7285 in the previous survey and $0.7140 in the current level.
Analysts also slightly downgraded their forecasts for the Australian dollar in three months and six months, from $0.7300 to $0.7200. They forecast the Australian dollar to be reported at $0.7400 in December, compared with an earlier forecast of $0.7500.
Analysts gave a wide range of estimates, with a minimum of 0.6600 and a maximum of 0.8200 for 12 months. This shows the uncertainty in investors'minds.
The Australian dollar/dollar fell nearly 10% in 2018 and is now under renewed downward pressure, hitting a 10-year low of $0.6715 in the computer-triggered "flash crash" last week.


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