Published: January 12, 2020
Bank strategists recommend short-selling currency in lead-up to expected interest rate cut
Foreign exchange investors are increasingly betting that Australia’s unprecedented bushfires will hurt the country’s economy and some are short-selling the Australian dollar in anticipation it will fall.
On top of a damage bill likely to run to billions, analysts expect that consumer sentiment, retail spending and tourism, which account for more than 3% of the economy, will all take a hit.
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