It has also blown a hole in my long-held belief that there was only so much volatility in the world. As I wrote nearly two years ago, if, “one asset was having a bit of an old wang, dang, doodle, then another would be doing nothing”.
Movements within the FX market alone may be sufficient to discredit that theory. Numerous different currency pairs moving up and down like the proverbial whore’s drawers. For instance, it wasn’t that long ago that the AUD was pushing up to near 25-year highs against the USD.
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