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China Pulling Rug From Under The Aussie
The Australian dollar is becoming the victim of its own success. For months, the currency has benefited from Australia’s close trade ties with China as well from relatively high Australian interest rates. As one of the leading “high beta” currencies, the Aussie has been the obvious place for international investors to head when they have been in the mood to take on higher risk. But that is all changing, even faster than expected. China is no longer the economic power house it once was with recent data suggesting a gradual slowdown is far from assured. At the same time, the recent strength of the Australian ... (full story)