How I'm trading the Aussie dollar after the RBA decision this week?... Saxo Bank Head of FX Strategy John Hardy considers whether the Aussie dollar is...
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How I'm trading the Aussie dollar after the RBA decision this week?... Saxo Bank Head of FX Strategy John Hardy considers whether the Aussie dollar is fundamentally overvalued following the RBA's decision to hold interest rates this week: I think it is getting a lot closer to fair valuation, and back when it was at parity it was egregiously overvalued. Now it is overvalued, but the overvaluation is a bit more modest. Hardy points at a poor GDP report which could weaken the Aussie dollar towards the 0.7750 in the near term and believes the AUDUSD has further to fall over the next twelve months, with a one year target at around 0.6800. (VIEW LINK)
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