Flash: AUD/USD lower on hot money flows – TDS

FXstreet.com (Barcelona) - According to Singapore based TD Securities analyst Annette Beacher, the current move lower in AUD/USD comes in the back of hot money heading for the exists, while real money buyers are holding their nerve, she says.

“So far we have not uncovered real money investors prepared to trim their AUD investments despite the recent fall in the currency,” Annette explains, adding: “The only investors we discovered that preferred to short the AUD were rather short-term in focus,” she said.

The TD Securities year end target for AUD/USD “appears optimistic at USD1.03,” the banks says, although they reckon “this is a forecast we remain comfortable with for now,” they conclude.