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AUD/USD sell towards 0.9400 – Societe Generale

FXStreet (Barcelona) - Kit Juckes, Global Head of Currency Strategy at Societe Generale, considers the area of 0.94 in AUD/USD as a sell opportunity.

Key Quotes

"The euro's fall may be a bit at odds with other asset market moves in the last couple of days, but the bounce in NZD and especially in AUD, is an opportunity. The longer-term outlook remains for monetary policy divergence to give the RBA the currency weakness it craves, and so we repeat our view that shorts near AUD/USD 0.94 represent very attractive trades from a medium-term point of view."

"From here until the end of the week the only question is how much the prevailing tide of asset price inflation can lift the AUD towards 0.94. At the same time, the risk rally overall is helping USD/JPY push higher, but we may need higher US Treasury yields before we have a chance to break properly clear of USD/JPY 104 and test the 105 level."

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