DislikedAustralia has not really begun to enter a real downturn, this is all still ahead. Aussie was worth 50 cents 8 years ago, and that downturn wasn't nearly as bad.Ignored
Wikipedia state "As of May 1, 2009, the total U.S. federal debt was $11,208,076,192,300.55".
If you knew a company was that much in debt, would you invest in it? Until I see the US making a concerted effort to reduce the deficit I'll be thinking twice (or not at all) about any short AUD positions.
And Australia has China on it's shoulder anyway. I know where I'm going to put my money and it won't be in the US$. Any pullbacks and I'll be in with a grin. If AUD gets to 50 cents I'll be staking my house on it.
Nothing worth having is easy.