Aussie
Contrary to my analysis the RBA raised rates to 4%, with projections of further rate hikes. Forex markets didn’t react to rate hike and the Aussie remains at previous highs from yesterday. I continue to hold my short position on the Aussie (long Euro and GBP) but with increasingly very tight stops. A break out to new temporary highs would mean heuristic is wrong and I will run to cover position. Considering the small pivot spread to stop levels, it is a worthwhile trade.
By Andrew Shawn – Recursive Investments in Global Financial Markets
Financial Markets | RefCapGroup | 
March 2, 2010 2:00 am
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