That's the thing, I'm not sure how a weak dollar may affect XJO directly. Largely, it will impact mostly precious metals and commodities and those type of stocks.
see rising gold prices are good for Evolution Mining while rising oil prices are bad for Qantas. Although oil is still well priced, it's just an example. Since commodity prices move with the Australian dollar, both companies are affected by currency changes through their exposure to commodity price changes. In other words, an appreciating Australian dollar is good for Evolution Mining and bad for Qantas.
AUD will be used as a safe haven when things go south. But times are now different, cash term deposits hold no return, so any international money will flow to the money market, bond or stock market or it may not at all.
i might do more research and update you later today
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