One Part Of Goldman's 'Top Trade For 2013' Has Already Come True

aussie dollar

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The Reserve Bank of Australia cut interest rates last night, bringing them back down to a crisis-era low.Goldman’s #1 trade idea for 2013 was to short the Aussie Dollar (against the Norwegian Kroner) on the premise that the RBA would be in rate cutting mode, while the Norwegian central bank (The Norges Bank) would be in rate hiking mode.

Since Goldman’s call came out, AUD hasn’t really moved anywhere against the Kroner, but at least the RBA cutting call is happening.

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