Skittish investors have driven the Australian dollar lower but it could still fall further if a history of traders over-shooting the mark is any guide. That is the finding of a new analysis from ANZ Research in which strategist Daniel Been looked at past periods of currency swings He found that overshoots - where the dollar is lower or higher than economic data would usually support - tend to persist for some time. "The currency tends to spend more time on either side of fair value than it does actually trading at fair value," Been wrote in a note on Monday, adding that ANZ currently estimates fair value at US72¢. ... (full story)