From the CS forex team:
After a soggy start to 2018, AUD could finally have its time in the sun.
The currency has suffered from being a favoured short against Emerging Market long positions, due to its now-low carry and perceived high correlation with the emerging market bloc. But with iron ore prices having seemingly based already, and LNG export sentiment boosted by rallying oil prices, the market may feel compelled to scale back its bearishness on the currency.
