Morgan Stanley says to sell any rallies and expect an 11-cent fall
Our to be short AUDUSD has caught attention due to its aggressive target of 0.65. Actually we think the level is not out of reach, it was our end 2017 target and we see a risk of hitting that level even earlier than that, but for now we are promoting it as a medium term structural trade. In general, from the China side, loose monetary conditions have caused a housing market boom and thus high commodity imports, but we think the easing will slow in coming months.
