CQS founder and CEO Michael Hintze recently joked that his decision to short the Australian dollar was a patriotic one, in line with central bank wishes.
“There is no question the RBA [Reserve Bank of Australia] made it clear that it was in the best interest of the Australian economy for the currency to be lower,” said Hintze, FINalternatives reports. “So at that stage you do your patriotic duty and try to help. That’s tongue in cheek but it was a fair trade.”
Hintze shorted the Australian dollar last year when it was trading at $0.94, and presumably got out when it was hovering around the high $0.80s before returning to $0.94 now. The Australian dollar was in the $1.05...
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