APT- General discussion, page-126

In my opinion there is another factor that should push Afterpay higher in 2020. Afterpays revenue is more and more dependent on the AUD.

With weak economic data it appears more and more likely that the RBA will cut rates again in February. This will likely drop the AUD further. Meanwhile the US appear to have bottomed in their interest rate cycle. Diverging interest rate movement have huge implications on currencies with AUD likely to lose more ground.

This should not be underestimated. If AUD drops to 62 cents that's an extra 10% revenue from what is becoming Afterpays biggest market, the US.

Just something to watch out for. Happy to answer any exchange rate/interest rate questions for those of you who haven't done an economics course in a while.