Unfortunate to say, but my AUD shorts got the better of me and were stopped out. Rather than setting a trailing stop loss and locking in about 30 pips, I let them run and hit my stops.
The string of announcements by the Reserve Bank of Australia has set the AUD soaring. This was a bit unexpected, but better hitting a stop than letting it run. The RBA stated that the AUD could be devalued further, but decided to hold rates the same. While a rate cut was expected, this did not happen signalling its growth control measure.
Furthermore, there are suspicions of insider trader as the Aussie moved on mass buying and selling just before an announcement came out. Could it be algorithms preparing for the potential release or is someone getting their information earlier. Take a look at these three Bloomberg articles: