EFTA Document EFTA01459700

12 January 2016 FX Blueprint: Forever Young China as well as oil-producing nations likely remain large suppliers of Australian fixed income. Weighty private investors such as Japan's GPIF tend to be more price-sensitive than reserve managers traditionally diversifying into AUD, and their demand may be peaking along with the rate differential (figure 4). Unlike Australia, New Zealand retains a small trade surplus, but it pays foreigners 4% of its GDP in investment income, almost four ti