Sovereigns, reserve asset managers, real money etc etc, they were all constant dip buyers only a few short weeks ago when the market was consolidating above 1.0200. Where are they now is what I’d like to know and are these erstwhile buyers soon to become sellers?
I spoke last night with a very long-term macro trader who I’ve mentioned here before. He was long AUD/USD from 65 cents to 1.06 when he started selling out. He’s now moderately bearish AUD/USD and thinks we will see levels near 90 cents before this sell-off will be arrested.
