AUD: No more value here - ANZ

The recent rally in the AUD has pushed it above fundamental fair value and has also played catch-up to the improvement in global risk appetite, explains the analysis team at ANZ.

Key Quotes

“We do not expect that fundamentals can push it any higher and think that global risk appetite now looks extended.”

“The AUD is due for some consolidation and we recommend selling AUD/CNH at 5.3535 and buying a 1 month AUD put spread.”