$A strength a ‘phantom menace’
The recent surge in the dollar has led to a selloff in stocks of overseas earners, but Macquarie reckons the falls have been overdone.
The recent surge in the dollar has led to a selloff in stocks of overseas earners, but Macquarie reckons the falls have been overdone.
Shorting the US dollar appears to be the favoured leveraged currency trade even though the world's biggest economy is growing at a decent pace, new figures show.
If the strong greenback was due to excessive confidence in the US president, it appears to have been solved. But currency fundamentals will return to lift the US dollar again.
Goldman Sachs Asset Management is calling the top of the $A, selling the currency after it jumped to a two-year high.
Dealmakers and financiers are finding a second wind in cryptocurrency. "There’s so much to imagine," an ex-China Renaissance executive says.
The Australian dollar retreated back below US80¢ as the greenback recovered from a mostly Fed-induced hammering.
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The Australian dollar has topped US80¢ as the prospect of a third US rate hike this year diminishes.
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