A snippet from CIBC on the Australian dollar
- Australian dollar pushed higher by "fear of missing out" and stimuli from central banks
Says in an environment such as the current global environment AUD should not have been expected to do so well, but it has (CIBC says its alone in this category)
- Investors need to consider the massive amount of liquidity that global authorities have injected into the financial system.
- These aren't your traditional 'free' markets where prices move off of fundamentals
And warn:
- potential sell-offs, 'risk off' behaviour, will be a lot less orderly and maybe more frequent
