Australian dollar signals poor Ashes outcome

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It seems Glenn Stevens is not the only Australian economist with a sense of humour. From the ANZ:

In this analysis we use a somewhat unorthodox action and appeal to a statistical relationship between Australia’s performance at the Ashes and the AUD/GBP exchange rate. We find a relationship strong enough to suggest that Australia will find the 2013 series difficult to win. Indeed, our model suggests that England will win the series by between one and three tests.

I note the AUD fell on the report…

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The Ashes – Cricket, Currencies and Causation

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.