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Morgan Stanley analysis finds AUD/USD is driven mostly by China-related factors, with rate differentials gaining importance. The bank suggests shorting the Aussie through crosses less correlated with China risk to position for Australian weakness.
The finding that China exposure dominates Aussie moves links Australian export demand and commodity prices to currency direction, a useful signal for pricing Australian feed grain and meal.
investinglive.comEamonn SheridanFeb 24, 2019Not enough comparable past events yet for a historical read.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.
