Global FX Strategy_ Exiting tactical AUDNZD short
DNV·2024-11-03 17:16
Action | 31 Oct 2024 14:26:55 ET │ 9 pages Global FX Strategy Exiting tactical AUDNZD short CITI'S TAKE We exit our tactical AUDNZD short for no gain (spot ref: 1.1011, 1:36 PM ET, 10/31). We initiated the short at 1.1010 on 10/28 as hawkish RBA pricing and stretched positioning created attractive asymmetry for AUDNZD downside. But catalysts did not prove supportive, and even as leveraged AUD longs have steeply unwound, the pair has chopped around a tight range amid stickier real money longs. We exit near o ...