National Australia Bank Limited
(ASX:NAB) says it has revised its Australian dollar forecast down due to recent global events.
The bank now expects the Aussie dollar to fall to 72 US cents by the end of this year from a previous target of 74 US cents.
NAB believes the local currency will bottom out at 71 US cents early next year, which is 2 cents below its previous forecasts.
The bank says the disruption in Greece and weaker Chinese equity markets have contributed to the resumption in the AUD’s downward trajectory.
National Australia Bank reported a net profit of $3.46 billion in the six months to the end of March 2015.
