"Ask yourself the question of why our dollar was strong and now weak?"
The answer is simply that the RBA clearly wants interest rates to be low. Consequently the AUD is weak. If the RBA raises the cash rate to a realistic level then obviously the AUD will become much stronger.
While being bad for the AUD and bad for inflation, the timidity of the RBA is bullish for the XJO and good for exporters and mortgage holders. These are not particularly good reasons for keeping rates low, because keeping rates too low compounds the problems and will probably lead to higher rates eventually.
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