The Aussie Dollar actually closed higher yesterday even after the inflation data appeared to put rate hikes on ice but the appreciation was more about the $US making fresh 9-week lows than the local story. The analogy of the AUD being simply a cork floating in a big currency ocean rings true. Our ideal scenario is the $A tests above 80c one more time before correcting.
MM is bullish the $A by default as the $US falls
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