The Pacific Peso is on fire even before the RBA’s “hawkish hold” at yesterday’s meeting, keeping in on its short term trend that has seen it breach and hold the 66 cent level against USD. However its performing much better against the Asian countries, making a new yearly high against Yen:
In fact it maybe performing too well as it accelerates away from the baseline trend above the 104 handle. Conversely USD is trying to match its recent high as the carry trade seems to be set to unwind on the interest rate differential between the BOJ and Fed:
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But don’t try to escape the summer heat and go to Europe or Brexitland just yet as the Aussie remains near double parity on Euro and Pound Sterling, and besides – they cancelled winter:
