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When the dust settled after the rate cut by RBA on February 3rd, and looking at my charts, it seemed at that time a potentially good trade to do the 3 month call option.

If you recall my breakeven is 0.8097, the spot is now 0.7625, so we are more than 400bps+ away from my breakeven.

This is the currency markets for you.

Seems the RBA is more concerned about rejuvenating growth than to tame asset bubbling.

Well, we still have time and who knows anything can happen.  Time is still in my favor.

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