Forex Flash: Gunshot wound for AUD bears - Societe Generale

Kit Juckes, Global Head of Currency Strategy at Societe Generale notes that overnight the RNBZ kept rates on hold while Australian employment figures improved.

The Australian employment change numbers improved by 71.5k in what Juckes comments is a “gunshot wound” for AUD bears (or would be tourists). He adds, “Rate cut hopes are in tatters. Mind you, given where 'risk' or more simply SPX is, short AUD bonds and short the currency is still viable.”