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Nairaland Forum / Nairaland / General / Business / FOREX: George Soros Made $60 Million just this morning (851 Views)
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FOREX: George Soros Made $60 Million just this morning by dgitrader(m): 7:38am On May 09, 2013 |
How George Soros Made $60 million in 18hours Reports this morning have George Soros making a cool $60 million on his Australian dollar sell-trade in less than two days. I’ve tried to piece together the various snippets I’ve heard. He started the short building from just above 1.0300 on Monday and added around 1.0280. A short time later the rumours started. At 0430GMT on Tuesday the RBA cut its benchmark interest rate, the first move since 2012. AUD/USD slipped from around 1.0240 to below 1.0200, and thats where Soros started scaling his purchases, from just below 1.02 to 1.0165 (and thereabouts): Best thing is, it appears he made 3 similar trades. With a trader in Hong Kong taking one of the orders, another in Singapore, and one more. The trades netted around $18 million on each, for a total reward of about $60 million. OK, just a word of caution. Soros and his organisation are highly secretive. This is the scenario I’ve put together from what I’ve heard around the place and I don’t imagine I’ve got all the details correct. But it does give an idea of how he operated. Oh, and $60 million is a nice return, but its pocket change for Soros, he’s has made over $1 billion being short yen over the past months! [color=#006600][/color] |
Re: FOREX: George Soros Made $60 Million just this morning by dgitrader(m): 7:48am On May 09, 2013 |
SIMPLY PUT: SOROS anticipated the Reserve Bank Of Australia would reduce its interest rate on thurs 2am, which would eventual lead to a drop in value of the australian dollar, based on this, he sold it heavily in favour of other currencies before the anouncement, and came about these huge profits. |
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