Dr Copper diagnoses illness for Australian dollar

Tuesday, 23 April 2013

It may be that the Australian dollar has decoupled from iron ore and bulk commodity prices, as well as reason itself, but the last few days has shown a quite striking correlation between the battler and Dr Copper.

This rather suggests the dominant driver of the Aussie is broad market perceptions of global growth, not just the fate of specific commodities (given we have bugger all copper).

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.