The AUD at 55 cents US would be a disaster for Australia. Next time you visit Coles check out where food comes from...it ain’t Australia. Next time you fill up the 4x4 have a look at the cost....and that is with the AUD being 75 cents. Walk next door into the car dealership : any vehicles made in Oz?...’sorry mate’.
Much bank funding comes from the US. If you were a lender and a country’s currency is weakening would you charge more...yep.
There is a general unawareness of Australia’s economic vulnerability so be careful what you wish for.
Aussie Dollar Dropping, page-21
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