Flash: Poor Trade data keeps pressure on AUD - Societe Generale

FXstreet.com (Barcelona) - Kit Juckes, Global Head of Currency Strategy at Societe Generale notes that Thursday started with poor trade data in Australia that have simply continued the AUD's downward trend.

The RBA policy statement was a green light for AUD bears and they are using it to keep right on going. He writes, “The move has only just begun and remains the best way of positioning for softer Chinese growth, continued re-balancing in the Chinese economy and for the risk of capital flows and yuan depreciation if the Fed does start tapering and drives US yields much higher by year end (see this morning's economics piece).”