At no stage in the last 3 years have I been an outright Aussie dollar bear. The closest I got was a long CAD trade in a pair with the AUD on the basis of oil. I was short AUDCAD back in November and really it did very little. I'm still surprised at that, but the Aussie central bank put the rates cuts I expected on hold thus perpetuating the carry trade. No great damage done. I'd start to short the AUD now on the basis that Chinese imports of raw materials will likely start to weaken which will force the hand of RBA supremo Stevens into cutting rates.
|Times up, sorry Aussie brothers|
|I'm not sure my cycling kit is going to be colorful enough!|