Aussie Dollar down over 1% last night against US Dollar. This explains most of the fsugy drop and more than half of Rio/Bhp drop on US
market.
lower Dollar is good for us, although it does point to a worsening Australian economy, doubly so given the high iron ore price.
Government cannot ask Reserve Bank to raise interest rates due to massive domestic exposure to debt for property purchases, so this can lead to unchecked inflation, especially once iron ore comes back down to low $100s.
General financial advice: having investments in non-Aussie assets, gold/crypto, or businesses which derive income offshore (FMG) are a hedge against falling Aussie Dollar.
Aussie Dollar down over 1% last night against US Dollar. This...
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$19.05 |
Change
0.180(0.95%) |
Mkt cap ! $58.59B | |||
| Open | High | Low | Value | Volume |
| $19.38 | $19.38 | $18.95 | $137.9M | 7.209M |
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| No. | Vol. | Price($) |
|---|---|---|
| 15 | 16330 | $19.04 |
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| Price($) | Vol. | No. |
|---|---|---|
| $19.05 | 5250 | 7 |
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