Yes, folks, the Australian dollar is going to fall

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The AFR has an amusing piece today on the Australian dollar:

The Australian dollar is unlikely to drop much between now and the end of the year, according to a survey of 25 market, academic, independent and industry economists, most of whom say the local unit is close to fair value now.

David Bassanese from BetaShares is the most bearish on the Aussie’s performance over the next six months, seeing it at US68¢ by December 31, and then even lower at US65¢ by this time next year.

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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.