Australian dollar to the moon

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The Cupboard today speculates that the Australian dollar is ready to fly to $1.20. Here is the Citi note that says so. I don’t doubt that this is a possibility with risk on growth and QE3 looming. So far as I can tell, with job losses already accelerating, this would seriously threaten any notion an orderly adjustment for the economy.

CitiFX G10 Focus – 02 Feb 2011 (1)

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.