After threatening to fall below 70 cents late last month, the Australian dollar has bounced against the greenback in November, helped in part by solid Australian employment data, hopes for trade resolution between the US and China, some softening in US interest rate expectations and, given stretched short positioning that had built up to the highest levels in several years, short covering from some investors. Many are now wondering whether the bounce from .7020 in late October was the low-point for the AUD/USD in the current cycle? To JP Morgan, the answer to that question is no. According to the bank’s Australian ... (full story)