AUD and NZD are both getting crushed by Chinese weakness, Yuan devaluation, weak commodity prices & global risk aversion.
http://www.bkassetmanagement.com/dai...devalues_9031/
http://www.bloomberg.com/news/articl...st-intensifies
At this stage the safe haven JPY is the biggest beneficiary, due to worldwide uncertainty about oil prices, Saudi/Iran conflict and N. Korea acting like a dick.
These currencies have already made substantial moves in the last three days but the fundamental drivers of those moves aren't going away in the near future - in fact they are more likely to create even more drivers, starting with weaker terms of trade and more dovish central bank language.
http://www.bkassetmanagement.com/dai...devalues_9031/
http://www.bloomberg.com/news/articl...st-intensifies
At this stage the safe haven JPY is the biggest beneficiary, due to worldwide uncertainty about oil prices, Saudi/Iran conflict and N. Korea acting like a dick.
These currencies have already made substantial moves in the last three days but the fundamental drivers of those moves aren't going away in the near future - in fact they are more likely to create even more drivers, starting with weaker terms of trade and more dovish central bank language.
si hoc legere scis nimium eruditionis habes