Our current exchange is a choker chain on our economy.
The price action in our market is saying the AUD is going higher short term.
More pain for business.
If I was treasurer... or running the RBA... I would have been talking it down months ago.
Or even better print some money to deal with Qld rebuild etc.. Kill two birds with one stone... Americans make the rules..silly not to join in really... Its only money...
But Swanny thinks AUD at these levels is all good, its a natural hedge he says...haha...
I remember Rivkin once proclaiming when the AUD/USD was 48c-50c that he is buying with his ears pinned back below 50c.
Can't help but feel he might be selling with his ears pinned back ~ 1.05 if he was still among us... RIP...
