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11 Apr 2013
Forex Flash: AUD: Fresh high watch update - Nomura
FXstreet.com (Barcelona) - Nomura Strategist Geoffrey Kendrick has continued to look for fresh highs in AUD/USD in the second half of 2013, with forecasts of 1.10 for end Q2 and 1.12 for Q3.
He writes, “The now reported (data was released Monday) AUD18bn of selling of AUD assets by Japanese investors between November and February suggests to us that Japanese investors went into the “new BoJ” flow story structurally underweight AUD assets. We expect this to reverse, assisted by yesterday’s strong Chinese iron ore import data for March.”
He writes, “The now reported (data was released Monday) AUD18bn of selling of AUD assets by Japanese investors between November and February suggests to us that Japanese investors went into the “new BoJ” flow story structurally underweight AUD assets. We expect this to reverse, assisted by yesterday’s strong Chinese iron ore import data for March.”