Saxo Group Videos

Hardy: Why I've sold AUDUSD

It's the Aussie's turn to feel some pressure! So says Saxo Bank's Head of FX Strategy, John Hardy this Monday and that's why he sold AUDUSD this morning. A sharp drop in the price of gold has given the US dollar a bit of a boost, but as John explains, there's much more to it that that.

NZDUSD was up sharply after months of declines. New Zealand's central bank meets on Thursday and everyone's expecting a rate cut. John suggests any rally will be short lived.

Elsewhere, EURUSD was holding above 1.08, a key support level, this Monday. Predicting what the greenback is likely to do this week is tricky given a lack of significant data, says John.

02:17 minutes
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