Economic indicators in the U.S. are improving, and this strategist says that means upside potential down under.
Sure, with Europe and the euro in trouble, the dollar looks relatively good. Decent economic news doesn't hurt either. But "I think the dollar is a sell elsewhere," says Todd Gordon, co-head of research and trading at Aspen Trading Group. For real upside, he is looking at Australia.
"The Australian dollar is well correlated to the S&P and to the American economy, and I think the Australian dollar is a buy to the upside" he says. Also, Gordon told CNBC's Melissa Lee, the Reserve Bank of Australia is close to finishing a round of interest-rate cuts that have been weighing on the Aussie.