How to play a peaking Australian dollar

Chief Investment Officer and founder of Aitken Investment Management
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After being a lonely contrarian bull on the Australian Dollar for the last 12 months, I have now changed my view to bearish at 80 US cents. The +10% rally in the Australian Dollar has not been driven by improving Australian economic growth fundamentals, it has been driven by a weak six months for the US Dollar (-9%). I believe this US Dollar weakness is transitory and the AUD will track back to 75 US cents in the months ahead as the Fed ploughs ahead with interest rate rises and balance sheet reductions. On the other side of the equation, the RBA will stand pat.

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