New Australian PM offers a path to AUD redemption
The AUD sunk and then rebounded again on political developments this week. The ascendency of Scott Morrison to PM offers the ruling party a road to redemption. Morrison comes from the most senior ministry role of Treasurer and has built a strong reputation as a pragmatist in controversial posts in immigration and social services ministries. He is more conservative than the former PM Turnbill and has the best chance of uniting the factional divide in the Liberal-National Coalition. The combatants in the factional and personal vendetta that gripped the party in recent years culminating it the dethroning of another PM have been weakened, allowing space for Morrison to assert authority and show badly needed leadership. The market had feared a lurch to a populist far-right anti-immigration government largely doomed to lose an election to a Labor party that has drifted further to the left. A national election still looms in six months, policy paralysis will not be easily fixed, policy uncertainty remains, but Morrison presents a better chance of lifting the standard of government either as a leader or from the opposition after the next election.
Amplifying Global FX Capital was founded in 2015 and is fully owned by Greg Gibbs. It is a registered company both in Australia and Colorado, USA and is licensed in Australia to provide financial services.
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Greg Gibbs is the director and founder of Amplifying Global FX Capital. Greg began his career at the Reserve Bank of Australia in 1989, and in the early 1990s, he was the first economics graduate at the Bank to be assigned to the foreign exchange dealing desk. In 1996, Greg joined Bankers Trust Australia on the FX sales desk covering Australian and international fund managers. In 1999, he joined Westpac Bank in New York and switched to the research side to become the bank’s first FX strategist based in New York, carving out a role covering major currencies. In 2002, he returned to Australia as senior FX strategist at RBC covering APAC currencies, and in 2006 he moved to ABN AMRO in Sydney, reuniting with many of his colleagues from Bankers Trust that were again part of a thriving full-service investment bank. Greg continued to work on at RBS in Sydney as senior FX strategist after it took over ABN AMRO in 2008. He moved to Singapore in July 2012 after the bank consolidated its FX business in Asia, and was appointed Head of APAC Markets Strategy for the bank in February 2014. In early 2015, Greg began to work on establishing his own company, Amplifying Global FX Capital, and launched its website in August 2015 after completing duties at RBS.
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