Westpac Australian dollar fair value model crashes

See the latest Australian dollar analysis here:

Macro Afternoon

Via Robert Rennie at Westpac:

Westpac A$ ‘fair value’ down 7% so far this quarter, with the 12% drop in Westpac export weighted commodity price index over the same period being a key driver. Midpoint for fair value model is now at 0.6550, above 0.68 the A$ would be deemed ‘expensive’ by this model.

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      • Ah! Like, if you run over a duck with a semi trailer, you make it into a ductile.

        Good for bathroom floors, given the water-repellent properties of the outside of ducks.