What’s blasted off the Australian dollar?

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The Aussie is ripping again today, even as commodities threaten the third level of Hell (on their way to the seventh):

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It’s powering against the US dollar, launching against the euro and well outdoing the other commodity currencies.

I could go into the five drivers again but there isn’t much need. This is largely a technical move. There’s been a little rebound in oil and copper and metal markets may be set for a dead cat bounce. Captain Glenn has lost his jawbone as well, from the SMH:

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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.