OctaFX | OctaFX Forex Broker
Open trading account
Back

Forex: Soros' AUD short idea attracts supporters, Druckenmiller joins bear call

FXstreet.com (Barcelona) -With the news still fresh about the successful short trade from Soros on the AUD/USD, and with expectations from some contributors at FXstreet, like 2ndSkies's owner Chris Capre, still skeptical Soros will let the foot off the gas just yet, calls to join the AUD bear party continue to mount.

Stanley Druckenmiller, former chief strategist under George Soros fund, is another trader betting for a cheaper Aussie.

As Bloomberg reports: "Stanley Druckenmiller, who made $1 billion for George Soros as his chief strategist by forcing a devaluation of the British pound in 1992, said investors should bet against the Australian dollar."

Bloomberg cites the strategist, who said: “We think the Australian dollar will come down and will come down hard,” Druckenmiller said today at the Sohn Investment Conference in New York. “Its expensive.”

Forex: EUR/AUD adds to gains ahead of Aussie Jobs Data \

The EUR/AUD finished the session up 94 pips at 1.2840. At one point the pair traded as high as 1.2910, but was unable to maintain a bid at higher levels and leaked lower later in the day. Aussie unemployment data will be released later in the session at 1:30GMT, which could have a major influence on the pair given the recent RBA rate cut earlier in the week.
Read more Previous

New Zealand Unemployment Rate decreases to 6.2% in 1Q from 6.9%

Read more Next
Start livechat