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Forex Flash: Opportunity to set m/t AUD short if euro policy underdelivers - ANZ

By FXstreet.com,  June 21, 2012, 08:47:00 PM EDT

FXstreet.com (Barcelona) - For now, the known facts that have strengthened the Australian Dollar, especially the pro-growth/job creation numbers, suggest that the easy gains have been made, says Andrew Salter, FX Strategist at ANZ. The chances for the AUD rally to extend depend now on whether or not the next euro area policy can act as a circuit breaker for Spanish bond yields, adds the Analyst.

"While we would not rule this out, we think that any rally predicated on treating the symptom and not the cause would represent an attractive opportunity to set a tactical medium term short position, designed to take advantage of the weak global macroeconomic backdrop and the likelihood of markets eventually unwinding the gains of a policy which avoids the fundamental issue."




The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of The NASDAQ OMX Group, Inc.


This article appears in: Investing, Forex and Currencies

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