Scope for an AUD short squeeze? bank flow data suggests so…
FXstreet.com (Barcelona) – Intraday players continue to buy dips on the Australian Dollar in early Tokyo, as buyers now try to absorb offers above 0.9190 to potentially extend a rebound that may see more aggressive challenges as it approaches 0.9220/30.
Sonali Desai and Rick Lloyd, Analysts at IFR Markets, note: “Bank flow data suggests scope for an AUD reprieve, with Citi noting a pick-up in leveraged AUD sales last week & UBS seeing the strongest AUD/USD selling by hedge funds since April.”
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