> Why AUD and not SGD? Fair question. And in some circles people would substitute AUD for CHF, and SGD is essentially in the same position as CHF (small, stabl

> Why AUD and not SGD? Fair question. And in some circles people would substitute AUD for CHF, and SGD is essentially in the same position as CHF (small, stable, well-connected country). But AUD mostly because Australia is commodity-rich and so AUD has a naturally high exposure to international trade especially in Asia-Pacific region. Its a bit like CAD but the problem with CAD is its neighbour. ;)