IMO the flight of investment capital out of Australia is putting downward pressure
on the value of the AUD:
https://tradingeconomics.com/australia/capital-flows
IMO this has many moving parts:
-anti-China sentiment by our Government & China trade sanctions
-the economic impact of Covid particularly on tourism & foreign student
-the recent bouts of Covid lockdowns in NSW, Vic & ACT
-the downward pressure on iron ore 7 met coal pricing by China
-the likelihood of recession (2 qtrs of negative economic growth)
-massive closures of small businesses.
-the prospect of a housing bubble
