$A is still falling against a stronger $US Higher interest rates will see all the money flow into USA to buy bonds. One interest fact currently in the forex market is the strengthening of the Rubble. US plans to collapse their currency worked for a short time. Putin has been planning for a while to strengthen his economy by buying gold and storing it in the central Bank.
When he announced to the world they would have to buy Russian energy with Rubbles. Many baulked at the Idea saying the rubble was too volatile. All he had to do was say, Rubbles could be exchanged for Gold. The Rubble shot up 38%.
Says to me Gold is very important in this day and age. China another nation who has been storing Gold since the 70's also offered to exchange Renminbi for Gold. In their purchases of oil from Saudi Arabia.
There is a lot of shorting in the market presently. RRL could be one of them. If company announced a dividend, would underpin shares and reward stressed shareholders.
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