The Australian dollar doing what it normally does – overshoot
Key points The $A has more downside and is being driven lower by a combination of a stronger $US, a secular downtrend in commodity prices
Key points The $A has more downside and is being driven lower by a combination of a stronger $US, a secular downtrend in commodity prices
Key points Just as the rise in Chinese shares had little economic impact it’s hard to see the pullback having a significant economic impact either.