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Druckenmiller Recommends Betting Against Australian Dollar

Duquesne Family Office LLC CIO Stanley Druckenmiller
Duquesne Family Office LLC Chief Investment Officer Stanley Druckenmiller said in August 2010 that he was closing his hedge fund, Duquesne Capital Management LLC, after being worn down by the stress of trying to maintain one of the best trading records in the industry while managing an “enormous amount of capital.” Photographer: Scott Eells/Bloomberg

May 8 (Bloomberg) -- Stanley Druckenmiller, who made $1b for George Soros as his chief strategist by forcing a devaluation of the British pound in 1992, said investors should bet against Australia’s dollar. * “We think the Australian dollar will come down and will

come down hard,” Druckenmiller said today at the Sohn

Investment Conference in New York. “Its expensive.” * Australian and New Zealand dollars have each surged 45% vs

U.S. dollar since end of 2008, biggest advances among over

150 currencies tracked by Bloomberg

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