Wayne Swan really needs to learn how to make better use of the Treasurer’s jawbone. The AFR story that I covered this morning about Swan’s commitment to market-based currencies last night coincided with a surge in the Aussie of about three-quarters of a cent. I’ve circled the impolitic moment:
Now, maybe it would have happened anyway. But this is an illustration that well (or ill)-timed comments by powerful individuals can effect values.
If the Treasurer can’t bring himself to endorse a sensible narrative for the Australian dollar perhaps he can at least zip it.
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