The AUD surge is not just a USD story - look at the AUD vs the EUR, NZD, JPY et al

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The AUD is rising rapidly. Alas, a lot of the commentary on why this is so is misguided when it notes that it reflects the weakness in the USD.
While this is part of the story, the AUD is also rip-snorting against most cross rates as investors flock to the AAA rated Australian bond market (and some of the semis), as commodity prices move higher and as capital flows into Australia on the back of trade and investment flows ramp up.
On my opinion, this appreciation of the AUD is in its early stages. There could be a further marked appreciation in the months and years ahead.