Again, I felt that the strength in the AUD was unwarranted given the state of its economy compared to the US. However, I also respect that the AUD is a safe haven currency and also because of the positive carry trade.
However, when the Ichimoku; Tenkan cut down on the Kinjun from the top at 0.9500, I decided to Buy a Put Option for 1 month at the money spot, breakeven at 0.9400 and a premium of 100bps.
The Panthenon Investment Group 