Australian dollar smoked into 75s

Friday, 3 July 2015

Along with iron ore and Shanghai, the Australian dollar is getting smoked to mid-April lows in the 75.70s:

That chart is one hideous bearish descending triangle. The intra-day low was in early April at $75.29 but we’re already below the lowest closing low for the entire great sell off.

Just in time to rub it into those credulous AFR economists?

About the author

David Llewellyn-Smith is Chief Strategist at the MB Fund and MB Super. David is the founding publisher and editor of MacroBusiness and was the founding publisher and global economy editor of The Diplomat, the Asia Pacific’s leading geo-politics and economics portal. He is also a former gold trader and economic commentator at The Sydney Morning Herald, The Age, the ABC and Business Spectator. He is the co-author of The Great Crash of 2008 with Ross Garnaut and was the editor of the second Garnaut Climate Change Review.