How valid Dubai for causing such a plunge in AUD? I can't help but think a property crumble in the middle east has limited relevance, also that the 4% dip is out of proportion with the movement in the stock markets. I'm long from 9020 and believe it has further up to run, to about 9180 in the next couple of days. All views welcome.
It's a very crowded risk-on trade (Mrs Watanabe is heavily involved, it seems)... When a wobble like Dubai happens, it suffers more than many other trades of that nature.