Un-fucking-believable. After two years he gets near target and it's as if he spoke those words yesterday.
Aussie Falls Toward Stevens’ 75-Cent Target After RBA Cuts Rates
Australia’s dollar bought 82 U.S. cents in December when Reserve Bank Governor Glenn Stevens said he’d prefer it at 75 cents. Less than eight weeks later he is close to reaching that goal. The Aussie dropped as much as 1.8 percent to 76.66 cents after the central bank cut its benchmark interest rate to a record 2.25 percent, joining at least 12 monetary authorities that have eased policy this year. “Australia’s had to put up with such a strong currency for such a long time and now everyone’s weakening currencies,” Kit Juckes, a London-based strategist at Societe Generale SA, said before the announcement ... (full story)