Flash: AUD/USD forecast under review for downgrade - NAB

FXstreet.com (Barcelona) - Given the sharp slide in AUD/USD, NAB has put its forecasts under review for further downgrade. The bank had expected the pair to stay around 0.93 by year-end, however, "the range-break higher in US yields and clear breakdown through 0.9400, an accelerated move towards the 0.90 areas was eminently possible" NAB notes. The bank does not rule out a potential recovery near term though, as "exporter buying and institutional hedging is likely to provide significant support and at least slow downside progress" NAB added.