The Australian dollar is on the verge of a historic low against the New Zealand dollar and could even go below parity next year, according to foreign exchange broker ThinkForex.
Currently, one Australian dollar buys $1.049 New Zealand dollars – just above the $1.042 low reached in 2006.
“The currencies have always traded above parity since being floated so this will be an historic event,” said ThinkForex senior market analyst Matt Simpson.
The Aussie hold above parity was looking “increasingly tenuous,” he said.
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