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Stay short AUD and NZD – SG

FXStreet (Barcelona) - Kit Juckes, Global Head of Currency Research at Societe Generale highlights his bearish view on the overvalued AUD and NZD.

Key Quotes

“The yen’s cheap. Very cheap in fact. If ‘Abenomics’ works, the USD/JPY will go higher until it generates growth as well as inflationary expectations, and then will correct.”

“But if the yen is ‘cheap’ in real effective terms, the Chinese RMB, the Australian and New Zealand dollars and indeed the Korean won, all look very vulnerable to the effects of Japan’s policy. But in terms of major currencies, with China importing disinflation and watching the economy slow, and raw material prices still falling, the case for sticking with short positions in NZD and AUD looks very strong indeed.”

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