It’s damn the lifeboats today for the Aussie as Fed dovishness continues to overwhelm all sense in markets. The Battler soared 1.3% last night to a high of $78.80. A quick look at the charts shows broad based strength against developed economies:
The downtrend against the Euro looks busted and uptrend against the Yen is intact. We’re still doing better against the US dollar and Pound.
Against developing economies it’s worse:
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