Credit Suisse has made one of the bravest bank calls I can remember. They see AUD/USD falling to 87-cents in three months and 75-cents in 12 months.
“It has become clear to us that the process of ‘normalisation’ is occurring more quickly than even we had anticipated,” said the bank’s London-based head of commodities research, Ric Deverell.
Deverell predicts a swift drop in mining investment.
Other banks have lowered targets but most of them continue to forecast AUD/USD in the 90-cent region.
