Here is a funny fact. For almost one year Bank of Austrilia has been trying to talk down the currency with minor success. The real thing they realzied working is new adjectives & adverbs used in combination with " the Aussie is too high ". The tactic proved effective in May 5th , when Bank of Australia monetary policy minutes described the Aussie as " The exchange rate, on the other hand, has been little changed at a historically high level over the past 18 months, which is unusual given the decline in export prices and interest rates during that time. "
Later on they kept the same tune and message , but the decline was sustained in on monthly move when a new in new adjective or adverb was used " is still uncomfortably high".
The point is: If you Bank of Australia express frustration over an expensive Aussie with a new word or a new expression, this indicts to markets the bank's relentless effort to a devalued currency. Also, it express a talked about alternative of direct intervention in the markets.
Stay short the Aussie, either on rallies or selling buying candles.
For now,
Short 0.912X
Stoplose 0.922
Take profit: 0.65
Later on they kept the same tune and message , but the decline was sustained in on monthly move when a new in new adjective or adverb was used " is still uncomfortably high".
The point is: If you Bank of Australia express frustration over an expensive Aussie with a new word or a new expression, this indicts to markets the bank's relentless effort to a devalued currency. Also, it express a talked about alternative of direct intervention in the markets.
Stay short the Aussie, either on rallies or selling buying candles.
For now,
Short 0.912X
Stoplose 0.922
Take profit: 0.65
Vachus
Order got filled ... now, lets see where Bank of Australia will be taking us!
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Vachus
I'm closing this trade, at almost break even - negative interest ... it looks like its bouncing higher ! So, i will be waiting
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Vachus
Steve ... F@ck u very much !
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