The interbank guru @FXWW303 has been selling the AUD today but I must say I disagree with him this time. The AUD rallied yesterday after poor domestic business data virtually ensured an August rate cut and it is back at opening levels again today despite more poor Chinese trade data. I think the AUD has fallen far enough, as we are currently seeing on the crosses against the EUR etc, and I expect to see some very nasty short-squeezes in coming sessions.
