Forex Flash: AUD is 5% overvalued – JPM

FXstreet.com (Barcelona) - With almost 5 last months above 1.02 AUDUSD, at 1.0394 last, and below 1.06 in same time period, JPM Global FX Strategy Team believes the Aussie is expensive: "Our models indicate that both the AUD and NZD are unambiguously expensive," the analysts say, adding: "Our long-term fair value model indicates the NZD is 16% overvalued, while the AUD is 5% expensive. By contrast, the CAD is 9% undervalued."