Australian dollar timbeeeer!

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The Aussie is still falling now, down a cent on the day:

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This looks to me a pretty decent move in the making. After all, if there’s no inflation then there’s no expanded carry coming. On the downside, there are few serious supports before 92 cents:

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It would probably take more bad news or a turn in the global “risk on” phase to take it below 92 cents but here’s hoping!

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.