BlackRock managing director Michael Trudel has told the Wall Street Journal a lot of US hedge fund managers are lining up to dump the Australian dollar.
“there are some pretty prominent hedge fund managers back in the states that have been vocal on getting short the Australian dollar,” he said, in an article by James Glynn.
“We’ve rarely spoken to a person–either here or among strategists back in New York–that are long the Australian dollar.”
Australia’s dollar has fallen more than 9% against the green back since the begging of May. Yesterday it dropped to its lowest level since 2011, with AUD worth $0.943 US dollars.
Read more at the WSJ.
The Australian dollar was trading at $0.961 this morning.
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