Forex Flash: AUD vulnerable to a carry unwind like in 2008 - HSBC
FXstreet.com (Barcelona) - The AUD has experienced a difficult start to 2013, with the currency one of the main casualties of the normalisation process and the revival in EUR enthusiasm, says the HSBC FX research team.
However, the bank warns: "Recent JPY weakness is likely to have prevented further AUD weakness and if we are to see a reversal in the JPY's fall the AUD is vulnerable to a carry unwind similar to that seen in 2008."
However, the bank warns: "Recent JPY weakness is likely to have prevented further AUD weakness and if we are to see a reversal in the JPY's fall the AUD is vulnerable to a carry unwind similar to that seen in 2008."
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