POLL-Aussie dlr seen buoyed by recovery hopes, rate outlook

* Aussie seen firm at 80 U.S. cents on global recovery hopes

* Yield advantage over U.S. assets to help

* New Zealand dollar seen holding at 64 U.S. cents

SYDNEY, July 3 - The Australian dollar is expected to remain strong at 80 U.S. cents in the next month, underpinned by hopes the worst of the global economic downturn has passed and speculation that interest rates at home have bottomed.

Investors are also likely to show continued demand for high-yielding New Zealand assets, with the kiwi dollar <NZD=D4> expected to rise to $0.6400 in a month's time, from around $0.6300 now.

A monthly poll by Reuters of 47 strategists produced a median forecast of $0.80 in a month's time for the Australian dollar, before easing to $0.7900 over the next six months and then advancing to $0.82 in a year.

That was an upgrade from the previous poll which showed the Aussie at 78 U.S. cents over a one-month horizon, easing to 77 cents in six months and at 78 cents in 12 months.

The Aussie is considered a barometer of global growth, reflecting its status as a major commodity exporter.

"The supportive outlook for commodity prices and positive interest rate differentials should keep the Aussie well supported and one does not rule out a near-term move above $0.81," said Kenneth Broux, economist at Lloyds TSB.

"Strong demand from China for Australian commodities may also help the Aussie to outperform in the near term."

The Australian dollar <AUD=D4> was subdued on Friday, having shed more than 1.5 percent to $0.7900 offshore after dismal U.S. jobs data reignited concerns the global recovery would be painfully slow, hurting demand for commodity-linked currencies.

Still, markets are more confident about Australia's economic outlook, mainly due to its closer ties with healthier Asian economies.

Investors are pricing in interest rate hikes by the central bank in the next year <AUDIRS> <CSRBA1Y=CSAU> after the economy dodged a recession in the first quarter and with healthy retail sales data this week showing consumers are still pretty active.

All that has encouraged talk that 3.0 percent might be the low point for the Reserve Bank of Australia's cash rate in this easing cycle. At that level, the country would still boast one of the highest rates in the industrialised world.

"The recent run of economic data has emphasised Australia's relative economic and financial health," said Michael Blythe, chief economist at Commonwealth Bank of Australia.

"Australia's interest rate advantage over the U.S., for example, is again becoming an important influence on the Aussie."

Local 10-year cash yields are a sizable 204 basis points over U.S. yields, having widened to as much as 225 points last week, the highest in 11 months, on a view official rates here will rise before those in the United States.

Yield-attraction was also likely to benefit the New Zealand dollar in coming months, the poll showed. The cash rate in New Zealand is at 2.5 percent, not far from Australia's 3 percent.

"The attractiveness of carry trades due to lower volatility, a softer yen and spreading risk appetite is supportive of the New Zealand dollar in the medium term," said Roberto Mialich of UniCredit MIB.

Still, not everyone is convinced the kiwi's recent gains can be sustained, pointing to some NZ$4.5 billion in NZ dollar denominated bonds maturing this month and a question mark over whether investors will choose to roll over the paper.

"Mrs Watanabe, faced with a choice of Aussie or New Zealand eurobonds, with the yield favouring the former, is likely to plump for the Aussie," said Imre Spelzer, currency strategist at Westpac in Wellington, referring to Japanese retail investors.