The Australian Dollar is one of the most hated currencies in the world right now.
The reasons are pretty simple:
- Commodity prices have been weak.
- China is slowing down.
- The strengthening US dollar has been sapping the appeal of many currencies around the world.
But sentiment has gotten pretty extreme.
SocGen posted this chart showing the latest speculator positioning, showing that net short positions in the Aussie have hit levels that they haven’t seen in years.
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