According to Bloomberg, Credit Suisse has made a big call on the Australian dollar, predicting it could go as low as 75 cents against the USD within a year.
That would be the lowest level since May 2009.
The bank also thinks the AUD — which is now hovering at around 91 US cents — could go as low as 87 cents within three months.
“Our feeling remains that either the dollar will continue to fall naturally, or the RBA will need to give it another push with a further interest rate cut,” Credit Suisse strategists wrote in an e-mailed note to clients yesterday, according to Bloomberg News.
NOW WATCH: Money & Markets videos
Business Insider Emails & Alerts
Site highlights each day to your inbox.