Australian dollar tumbles but SO not enough

Tuesday 10 March 2015

We’ll all be celebrating today as the Australian dollar tumbles to a new post-GFC low approaching 75 cents. But the truth is it’s not helping anywhere near enough. Here is the battler versus our major developed economy competitors:

We’re making progress against the US and UK but not Japan and Europe. Worse, check out the chart against commodity competitors:

You’d hardly call that progress and we’re losing the iron ore war with Brazil and South Africa hand-over-fist.

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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.