AUD is in a downtrend. After bouncing off the low around 0.60 due to strong support from the Reserve Bank of Australia and hitting around 0.73 (going by memory) AUD is now 0.6352.The news following this weakening of AUD was the sell-off was caused by concern of large rate cut by RBA next week.
Hindsight is a wonderful thing isn't it.How things can change in 2 years.I found it amusing reading this with the AUD consistently above the USD for many months now.A firm reminder that we should pay attention to real information and research instead instead of the gyrations and wick-wacks of the market.Economists have predicted 9 out of the last 5 recessions.
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