Forex Flash: AUD/USD to stay above parity for the remainder of 2013 – NAB

FXstreet.com (Barcelona) - As Ray Attrill notes, Global Co-Head of FX Strategy at the NAB: “Two weeks ago we revised up our forecast for the pair to show it holding above parity for the remainder of 2013, amid reduced confidence that a (modestly) stronger USD over the balance of the year is capable of taking more than a small bite out of the AUD,” Ray says, adding: “and recognition that even if the RBA were to deliver another 50bp of rate cuts in this cycle as NAB currently forecasts, this is unlikely in itself to take much more than a cent off the currency (certainly this is all that the interest rate term in our fair-value AUD model suggests is justified),” the analyst concludes.