That could appease the IMF and Australian exporters that want the Aussie to decline, making GDAY’s bearish cousin, the ProShares UltraShort Australian Dollar (NYSEArca: CROC), a potentially attractive trade in the process.
The Aussie’s potential to fall does not lie entirely with RBA. The IMF sees Federal Reserve tapering as the critical external factor that could weaken the Aussie, Bloomberg reported.
CurrencyShares Australian Dollar Trust
ETF Trends editorial team contributed to this post.