By Rudi Filapek-Vandyck<\/p>\n
It was only on Friday that TD Waterhouse recommended currency traders should go short the Aussie dollar. Reasons provided for the “short” trade was a sudden spike in investor appetite for more risky assets, such as commodities and commodities-related currencies, but one that was unlikely to last given the significant economic headwinds that were still ahead.<\/p>\n
(See also our story “Go Short The Aussie Dollar, Says TD Waterhouse”, FYI, January 9, 2009).<\/p>\n
Three days later, the Aussie has been to US$0.72 and back to US$0.6750, and TD Waterhouse believes the time is opportune for taking profit on the trade.<\/p>\n
Says Joshua Williamson, Senior Strategist TD Securities: “Since the recommendation was made, the AUD has fallen substantially, weighed down by weaker commodity prices, falling equities and a renewed safe-haven bid for the USD.”<\/p>\n","protected":false},"excerpt":{"rendered":"
On Friday TD Waterhouse advised investors should go short the Aussie. Today taking profits seems the wisest thing to do.<\/p>\n","protected":false},"author":3,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[10],"tags":[29],"acf":[],"_links":{"self":[{"href":"https:\/\/staging.fnarena.com\/index.php\/wp-json\/wp\/v2\/posts\/55057"}],"collection":[{"href":"https:\/\/staging.fnarena.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/staging.fnarena.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/staging.fnarena.com\/index.php\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/staging.fnarena.com\/index.php\/wp-json\/wp\/v2\/comments?post=55057"}],"version-history":[{"count":0,"href":"https:\/\/staging.fnarena.com\/index.php\/wp-json\/wp\/v2\/posts\/55057\/revisions"}],"wp:attachment":[{"href":"https:\/\/staging.fnarena.com\/index.php\/wp-json\/wp\/v2\/media?parent=55057"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/staging.fnarena.com\/index.php\/wp-json\/wp\/v2\/categories?post=55057"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/staging.fnarena.com\/index.php\/wp-json\/wp\/v2\/tags?post=55057"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}