Time to re-short the Australian dollar?

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Business Insider has a unfortunate article today that gives you a good hint on what to do with the Battler:

AUDUSD-winning-streaks1The Australian dollar is on the cusp of making history

To say the Australian dollar has been on an amazing run of late is an understatement. From the low of .6934 struck on September 29, the Aussie has now rallied more than 6% against its US namesake. It’s rallied for nine consecutive sessions, equalling the third longest stretch of daily gains since the currency was floated back in December 1983. A truly amazing recovery.

The chart below shows the Aussie has experienced just five longer winning streaks over the past 32 years.

Nice chart, though. You know what to do!

About the author
David Llewellyn-Smith is Chief Strategist at the MB Fund and MB Super. David is the founding publisher and editor of MacroBusiness and was the founding publisher and global economy editor of The Diplomat, the Asia Pacific’s leading geo-politics and economics portal. He is also a former gold trader and economic commentator at The Sydney Morning Herald, The Age, the ABC and Business Spectator. He is the co-author of The Great Crash of 2008 with Ross Garnaut and was the editor of the second Garnaut Climate Change Review.