GBP/AUD shorts were the best trade this week
The Australian dollar was the top performer
The week straddled two different months and included a big rally in risk assets and plenty of Brexit news. As a result, the two big movers were the British pound and Australian dollar.
GBP/AUD shorts were a counter-trend trade, at least in the medium term. The paid had been rising since early December.
The latest pullback still falls within the uptrend and looks more like a buying opportunity than the beginning of more losses. On the flipside, the pound is vulnerable to Brexit headlines while AUD could continue to gain on trade hopes and risk appetite.