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Hardy: Why I've sold AUDUSD

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It's the Aussie's turn to feel some pressure! So says Saxo Bank's Head of FX Strategy, John Hardy this Monday and that's why he sold AUDUSD this morning. A sharp drop in the price of gold has given the US dollar a bit of a boost, but as John explains, there's much more to it that that.
NZDUSD was up sharply after months of declines. New Zealand's central bank meets on Thursday and everyone's expecting a rate cut. John suggests any rally will be short lived.
Elsewhere, EURUSD was holding above 1.08, a key support level, this Monday. Predicting what the greenback is likely to do this week is tricky given a lack of significant data, says John.