AUD/USD reached 0.8453 on its latest run, a pretty impressive run from below 0.82 little more than 24-hours ago. Has the world changed that much for the better in the last 24-hours? Debatable. Europe is coming back quicker than expected, but the ECB is unimpressed. The US, on the other hand may be coming back more slowly than hoped as US retail sales illustrated today.
Options related sales ahead of 0.8500 barriers should cap things, but these days I’m very reluctant to use anything approaching a descriptive sentence. Expect lots of “coulds” and “shoulds” as markets defy logic and gravity time and time again.
AUD trades now at 0.8399.
