Fresh lows for the Aussie. With the rally in commodities and the Yen off today you would think Aussie would be finding a bid…try -1.75% weaker.
When China tells you it’s OK if they grow at 6.5%, Australia (FXA, quote) can’t like it.
China’s Finance Minister, Lou Jiwei on the tape saying economy may miss the 7.5% government target, but that’s OK. …OK for who?
We have been very clear on a negative Aussie trade from 1.04.
Still targeting 85.
