NAB upgrades forecasts for Aussie and kiwi

Forex analysts revised their forecasts for the Australian and New Zealand dollars but were left behind the market that has already exceeded the one-year target.

Aussie forecasts were raised to $0.6400 in a month, $0.6450 in three months, and $0.6800 in a year.

The Aussie stood at $0.6940 on Friday and gained 4% this week. 

The optimistic mood for the currency has urged local banks to raise their forecasts for the Aussie. The National Australia Bank revised its forecast for June to $0.6800 and $0.7000 for September.

The New Zealand dollar also beat analysts forecasts after gaining 4.3% this week. The currency traded at $0.5469.

National Australia Bank also upgraded its forecasts for the kiwi to $0.6300 by June and $0.6600 by December.