There have been recent calls for Australian Interest rates to be lowered .25 x four approx. by JPMorgan and Westpac.
If this occurs, there goes the USD/AUD carry trade. Money flows out of AUD back to USD.
As long as 'risk off' continues, ie before more QE, the AUD will suffer. When, not if, the printing kicks off again we will follow the dow back up again.
The fact that the DOW won't be worth what it is now, doesn't mean it can't go up in nominal terms.
Fiat currency race to the bottom. Universal parity > IMF SDR's
