Top Aussie Forecaster Fox Sees 10% Drop to 80: Australia Credit

Emirates NBD forecasts a 10 percent slide in Australia’s dollar this year, three times the drop predicted by HSBC Holdings Plc., which it ousted as the top forecaster for the currency.

Emirates, the most accurate at predicting the Aussie over the past four quarters in data compiled by Bloomberg, expects it to fall to 80 U.S. cents by Dec. 31 as the Reserve Bank of Australia focuses on supporting growth while the Federal Reserve reduces stimulus, according to Tim Fox, Dubai-based chief economist at Emirates. Second-ranked HSBC is projecting a slide to 86, one cent below the median of 39 year-end forecasts, from 88.73 at 1:34 p.m. in Sydney.