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Goldman Sees Aussie Trade Of The Century
Goldman Sachs says there’s gold to be struck in going long the euro against the Aussie dollar, which could prove a ‘trade of the century.’ “One of the best long term trades out there at the moment is long euro versus short Aussie,” Thomas Stolper, chief currency strategist at the U.S. investment bank told Deal Journal Australia. At the genesis of his thinking is that much of Europe’s bad news is priced in whereas the headwinds for the Australian dollar are only now building from slower Chinese growth, interest rate cuts by the Reserve Bank of Australia and tighter fiscal policy.
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