Big hedge funds playing ranges in Asian session

I’ve just met up with an old friend who works with one of the big banks locally and he says that, reminiscent of the 1990’s, some of the bigger hedge funds are range trading the Asian session particularly in the AUD and the NZD. They trade one side heavily in the morning, get the market tilted oneway then reverse the trade catching the market off guard.
You can do this if you’re big enough.
They slammed the AUD earlier and then bought it back, catching many intraday traders by surprise.
Interesting to see how many professional operators are in the market using disparate strategies to make a buck!