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ANZ Research Says Another Challenging Year For Pacific Currencies

The ANZ research team has highlighted expectations that Pacific currencies will face another challenging year this year. This came as the ANZ Foreign Exchange strategists forecast further broad-based weakness against
29 Jan 2016 10:02
ANZ Research Says Another Challenging Year For Pacific Currencies

The ANZ research team has highlighted expectations that Pacific currencies will face another challenging year this year.

This came as the ANZ Foreign Exchange strategists forecast further broad-based weakness against the US Dollars.

The forecast for the Fijian Dollar against the US Dollar is to continue to fall over the next three quarters reaching 0.439 in September before gaining strength slowly from December.

It is forecast by September 2017, the rate will be 0.459 which is what the rate stands at present.

A report released by ANZ said: “While the weakness in Pacific currencies will come to an end at some point, we do not believe we are there yet.”

The team believes that over the course of 2016-17, the upward trajectory of the US Dollar is likely to flatten and offer some respite to the Pacific currencies.

The US Dollar was reported to have once again reigned supreme in 2015, appreciating against most key developed and emerging market (EM) currencies.

Feedback:  rachnal@fijisun.com.fj

 



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