Forex Flash: AUD/NZD to as low as 1.15 - TDS

With AUD/NZD currently near fresh 2.5-year lows around the 1.2160, Singapore based TD Securities analyst Alvin Pontoh believes, “From a fundamental perspective, the lower AUD/NZD trend could extend all the way to as low as 1.15, as we expect a historic convergence of benchmark rates by the end of this year (at 2.75%),” Alvin suggests, concluding: “This is the reason why we called 2013 to be ‘The Year of the Kiwi’, back in December.”