bbloff,No need to guess where the rates are going - the RBA has indicated to cut rates if needed. AUD follows rates expectations.Linkers Signaling Inflation Peak Boost Rate-Cut Chances: Australia Credithttp://www.bloomberg.com/news/2011-10-24/linkers-signaling-inflation-peak-boost-rate-cut-chances-australia-credit.htmlA fairly good guide to what the markets are expecting over a shorter time horizon that 4 years is this page of futures Menta, it was a rhetorical question.