The Australian dollar has a lot going for it: a top tier credit rating, more than respectable yield for a triple-A country, and a resource-based economy with big ties to China. What it doesn't have is a central bank propping it up. Business conditions in Australia deteriorated to financial-crisis levels, thanks partly to the strong Aussie dollar,[AUD=X 1.0328 -0.0046 (-0.44%) ] and the Reserve Bank of Australia increased reduced its relative holdings of Australian dollars in October after net selling in September and August, says Todd Elmer, head of G10 currency strategy for Asia ex-Japan at Citigroup. The central ... (full story)