Aussie Dollar – since early May we have been riding this short with a target of .85. After a wicked break today (-2%), we are in sight.
Fresh lows for the Aussie. With the rally in commodities and the Yen off today you would think Aussie would be finding a bid…try -1.75% weaker.
Yesterday traders saw the Aussie dollar lose ground as sentiment shifts away from risk only to flip today to more risk on, making the Aussies the strongest currency today.
Traders have been ditching risk assets all week, but today the market is seeing an increased move out of the riskier assets that started in the Asian and European sessions overnight.