Been a wild week, with big currency moves, and have been travelling, so haven't had time for updates.
Added to short Euro position again at 1.4660 and 1.4500, so now short 3m Euros at average of 1.4773 and well in the money, with spot sub 1.4300.
Still holding long NZD short AUD1m position, still looking for this cross to head to 0.8500.
Toying with buying NZD, selling USD after recent heavy falls, as it is looking more likely that Bollard cannot cut due to the recent falls in the TWI. But he is as mad as a hatter, so still may cut anyway to appease Cullen.
I will wait till the Monetary Policy Statement before doing anything.
Alos considering buying USD's against the Yen, and running a carry trade. Need to see some stability in USD/JPY first, we'll see.
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"Bollard cannot cut due to the recent falls in the TWI. But he is as mad as a hatter, so still may cut anyway to appease Cullen."
Looks like you were right on the money with this one. He's mad.
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