Advertisement
By Chris Becker
Being long USD is shaping up as the trade of year for 2014 as Friday nights extremely strong US non-farm payroll (NFP or unemployment) print reconfirmed the markets perception of strength in the US economy and hence “King Dollar”. And continued the job for a reluctant Glenn Stevens of smashing the Aussie dollar to the ground.
The Aussie has now fallen 1000 pips against the USD from its breakdown in July, currently at 83.20, where realisation of the destiny of the domestic economy is finally sinking in:
The full text of this article is available to MacroBusiness subscribers
Cancel at any time through our billing provider, Stripe
Advertisement