Aussie dollar on way to 87 cents

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by Chris Becker

Thin early morning Asian trade in the Aussie dollar (AUDUSD) is pushing on to the 87 handle:

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Its already down nearly 7% for the month, starting at 93 cents and now sitting on support at its January lows:

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The 81 to 84 cent range is likely the medium term bottom but its daylight below folks – too late I would imagine for most of the economy to take advantage of and definitely a problem for the RBA as tradeable inflation (i.e retail goods and commodities that are imported) is getting goosed.