"If you really believe time has been called on the mining boom then why is the A$ at 1.06ish?"
A massive amount of European money came into the Aust market recently and the dip after that imho was partly the Aussie traders trying to kick them out, even so with a rising Aussie dollar they could get out and go home with a break even or a gain arbitrage against their own currencies.
Some of the European money will stick around imho. Also USA is high so money will be coming out of that and coming here while it is low, a circus merry-go-round to be sure, jump off before the music stops or is the cranker at the handle again ?
august pivots 2, page-102
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