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Forex Flash: We may be entering a new era for the AUD - HSBC
FXstreet.com (Barcelona) - According to the HSBC research team, "it has become evident that equity market performance is no longer able to support the AUD" with the S&P, which had supported the AUD rally since 2008, now decoupling its relationship.
HSBC adds: "The AUD has fallen in recent months despite the S&P continuing to surge higher. This divergence in performance potentially signifies a decoupling of the AUD’s link with equity markets. We may be entering a new era for the AUD, whereby local factors not global factors play a much more significant role for the currency."
