DislikedThe AUD will most likely just remain the carry trades' play thing for a good while to come. Commodities may well remain subdued for some considerable time. At times like this, the AUD doesn't stand on it's own merits, it's just a toy for shorting cover.
Makes me smile when I hear the evening news reports here about how the Aussie dollar is trading at xyz... like it means something about the Australian economy, which of course, it doesn't.
Just be careful if you are looking to swing trade the AUD long, it gets bought up expressly so it can be...Ignored
Very good point about the aussie being a toy soldier. In fact, i have come to watch the aud/usd way more than eur/aud trying to anticipate a drop (even a modest one) in aud/usd which will cause a massive spike in eur/aud. Am used to be most comfortable when aud/usd was hovering around 0.60 coz then you'd know almost for the fact that Aussie government intervenes trying to prop up the aussie against the USD thus causing a sizeable retracement in eur/aud.