desire, for it to be an effective hedge I need the AUD to go to...

desire, for it to be an effective hedge I need the AUD to go to about 20c. Don't want to start a FX thread but my gut feeling is that is unlikely to happen.

current market is interesting when you take into account the cheap AUD. you would think Aussie stocks might be looking like a bigger bargain for offshore investors but that hasn't been enough to get the market moving. Probably worked in reverse with unwind of carry trades.