The float of the Australian dollar 40 years ago today forged a shock absorber that helped the country weather decades of economic turbulence and to punch above its weight in global financial markets. It may have been a tumultuous ride for what’s now one of the world’s most-traded currencies, but the highs and lows over four decades have shielded the resources-reliant economy from inflation pressures following commodity booms and helped boost exports during times of global crisis. Gone are the glory days of 2011 when the currency fetched above $1.10 during a mining investment boom, a decade after plunging to its 47.8 ... (full story)