The consistency you seek is in your mind, not the markets. Mark Douglas
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My Love Affair With The Australian Dollar Has Officially Ended
The Reserve Bank of Australia (RBA) is making its next interest rate decision on March 6th (Aussie time), so this is a good moment to describe finally why I recently sold my long-term holdings in the Rydex CurrencyShares Australian (FXA). A February 24th article in the Australian from Dow Jones Newswires titled "Reserve Bank open to forex intervention to weaken Australian dollar" provided the big shock to my system: Australia's central bank governor, Glenn Stevens, today told the House of Representatives economics committee hearing in Sydney he was not attracted to the idea of intervening to weaken the Australian ... (full story)