AUD/USD remains under pressuring just putting in a fresh intraday low at 0.9184. We are now only 27 pips off Mondays low at 0.9157 after having dealt to 0.9339 in between. There has been talk of large AUD put buying through the option market today but I would not like to over-read those trades as option vol is cheap in the antipodean duo and Greece’s woes will surely start to have a wider impact sooner or later (risk off).
AUD/NZD is down over a big figure today as longs are squeezed. Nothing fundamentally changed here. The RBA Governor did say today that Australia’ s terms of trade are near 50 year highs. That’s pretty good fundamentals.
