Strong Aussie bond performance giving AUD another boost

This morning’s small auction of 3-year bonds had the highest bid/cover ratio in almost 18 months. It does bring us back to the fundamentals behind the AUD rise, namely that investment in Australian assets still looks very attractive when compared to other currencies out there (USD, EUR, JPY etc). I’ll still try selling into a 1.0300 rally but I’ll keep my stops fairly tight just in case.

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