Dont kid yourself. Our AUD is a commodity currency and a proxy for our mineral/energy exports particularly Iron Ore met Coals & LNG.
China is the biggest user of all 3 so if we are blocked via US trade sanctions from exporting to China, then as sure as night follows day, the ass will fall out of the AUD.
Forget the normative situation; we are heading for turbulent times economically once Trump gets his ass in the chair.
And even with the best case scenario: that is if Trump avoids an all out economic war with China, he is likely to redo the January 2019 bilateral trade deal with China on steroids.
The Trump Jnuary 2019 bilateral trade deal with China resulted in the US replacing Aus ag and coal/lng exports to China with US exports. Then those included barley, wine, fish, select beef & forestry products and it has taken the Albanese Government almost 3 years to reverse.
These severely impacted our economy on top of Covid.
