The Australian dollar's outlook darkens - BBG

Bloomberg published an article on Tuesday on the outlook for Australian dollar going forward.

Key Points:

Leveraged funds cut net long positions to 12,879 contracts in the week through May 9, the sixth straight reduction and down from as high as 53,601 at the start of March

Optimism has evaporated as the prices for iron ore, Australia's biggest export earner, plunged

Rising Chinese iron ore stockpiles

Diminishing yield advantage of Australian bonds over the US Treasuries, given expectations for a rate increase by the Federal Reserve in June, is adding to concerns