No doubt the Pasconomical RBA will today be celebrating a little move down in the Aussie as the US warms up to tightening next year. A job well done!
Only one problem, the Australian dollar is falling FAR LESS SWIFTLY that any of our competitor countries. In terms of commodity producers, here’s the USD versus the Aussie (in black), Brazil, Chile and South Africa:
Notice the widening spread between us and the rest. And versus developed economy competitors Japan, Britain and Canada:
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