By Sara Sjolin
LONDON (MarketWatch) -- Analysts at Goldman Sachs made several changes to the bank's currency forecasts, cutting the outlook for the Australian dollar to reflect poor commodity price, while also highlighting expected continued weakness in the yen. On a three-months basis, Goldman Sachs now sees the Aussie AUDUSD -0.56% falling to $0.97 from $1.05 expected previously. The six-months forecast was lowered to $0.96 from $1.03 and the 12-month forecast was cut to $0.90 from $0.98 previously. "Our view remains predicated on Australia's deteriorating fundamentals, prospects for lower commodity prices, slower Chinese activity and the likelihood that the search for yield will decline as global growth sustainably recovers," the analysts said. In relation the yen USDJPY +0.15% , the analysts now expect the dollar to buy ¥105 in three months, up from ¥102 expected previously, while the 12-months forecast points to ¥110 compared with ¥105.
