31 Jul 2013
Flash: AUD/USD bounceback limited – BMO Capital Markets
FXstreet.com (New York) - Governor Stevens has raised the stakes again yesterday, and the AUD has fallen sharply, notes Greg Anderson, Global Head of FX Strategy at BMO Capital Markets.
Key quotes
“The recent decline in the exchange rate seems to make sense from macroeconomic perspective. It would not be a major surprise if AUD/USD further declined over time.”
“Once again the market has been caught off guard a little, given the general softness of the USD over the last few sessions, and short AUD positions were not as widely held as they were.”
“I have to think that once again today bounces should be very limited, and barring any major turnaround elsewhere 0.9100-10 will cap us.”
Key quotes
“The recent decline in the exchange rate seems to make sense from macroeconomic perspective. It would not be a major surprise if AUD/USD further declined over time.”
“Once again the market has been caught off guard a little, given the general softness of the USD over the last few sessions, and short AUD positions were not as widely held as they were.”
“I have to think that once again today bounces should be very limited, and barring any major turnaround elsewhere 0.9100-10 will cap us.”