Published: January 02, 2019
The rosy forecasts from the Reserve Bank for the economy are pipe dreams – investors know this and are selling Australian dollars
The Australian dollar was hit hard overnight, Australian time, slumping below 70 US cents before a sharp and more extreme move saw it temporarily crash to a low of 67.40 US cents. It subsequently recovered marginally, but remains weak at around 69.40 US cents.
Rather than focus on the micro aspects of minute-by-minute or hour-by-hour moves in the dollar, which can be more noise than substance, the trend for the dollar over the past year has been down.
Continue reading...from The Guardian http://bit.ly/2F2VZrx
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