RIO 0.54% $120.20 rio tinto limited

au$ falling, will rio rise?

  1. 1,368 Posts.
    Just heard AU$ dropping like a stone as NZ announces interest rate cuts. Apparently we are dropping in tandem with NZ$ because markets expect us to also cut soon.

    Does that mean rio will go up short term? It had been falling as our $ rose. I think its worth exploring the rio Vs. AU$ relationship a bit more. Might be time to look at calls this arvo, if we get a fri selloff, for those that are short term players.
    I think I'll just wait for the next signal to buy puts.I never go against the long term downtrend, but good luck for those who do.
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