From the AFR:
Asia’s wealthy are falling out of love with the Aussie dollar as record-low yields and sustained declines persuade them to look elsewhere, according to UBS.
…“Two years ago when I came to the region, in most client meetings, people were asking about Aussie assets, the Australian dollar, yield play; when you talk about it now, there’s almost no interest,” Mr Smiles said in an interview on Monday. “From the third quarter of last year, there’s a growing belief that the US dollar would start a sustained appreciation trend.”
