The US dollar bull run began on July 10. Here is FX performance over that period.
FX moves since July 10 vs USD
That’s impressive performance over six weeks but almost equally impressive is how the Australian dollar has hung in there.
My favorite kind of bull market is a quiet one and the Australian dollar is putting in an impressive performance on the crosses and not nearly as many people are talking about. On Friday there were signs that investment is returning to Australia. Last week Stevens also indicated that no more rate cuts are coming.
With risk trades continuing to improve, what’s not to like?
