Druckenmiller Recommends Betting Against Australian Dollar

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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