Analysts remain bearish on the outlook for the Australian and New Zealand dollars given global growth concerns and low commodity prices, but forecasts on how far they might fall are becoming steadily less bleak.
A Reuters poll of 46 analysts found the Aussie dollar was expected to drift to 70 US cents in one year, from $0.7373 currently. That was a cent higher than in last month's poll.
The poll also has the Aussie eerily steady over the next 12 months, stuck between 69 cents and 70 cents.
The local dollar is up 1.2 percent so far this year, having recovered from a 7-year low of $0.6827 touched in January. It rose sharply this week as data showed the Australian economy grew a surprisingly strong 3 percent over 2015.
The Antipodean currencies have found support from attractive government bond yields even as the US Federal Reserve started to tighten its monetary policy.
Australia's 2-year bonds pay 1.9 percent, while their New Zealand counterpart offer 2.2 percent - eye-popping compared with the negative yields of Germany, France and more recently Japan.
Earlier this week, the Reserve Bank of Australia (RBA) kept rates steady for a 10th month at 2 percent, citing reasonable prospects for continued growth at home.
Interbank futures imply around a 50-50 chance of a cut by mid-year.
Opinions on the Aussie varied widely, as usual, with forecasts ranging from 58 cents to $0.7848 cents.
A survey of around 39 analysts also sees the New Zealand dollar slipping, but only glacially. Forecasts put it at $0.6500 in one month, $0.6367 in three, $0.6350 in six and $0.6333 in 12 months.
The Reserve Bank of New Zealand (RBNZ) holds its policy meeting on March 10 with the majority of economists anticipating the central bank to keep rates at 2.5 percent.
Kiwi forecasts were vastly different putting it between 52 cents and $0.7450 in one-year's time.
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