Aussie’s halcyon days are not over

The Australian dollar’s strong rise in the first six months of this year is fading from memory. But although the original 22.5% gain is now only 15%, this still places the Aussie as one of the stronger performing currencies this year.

High relative interest rates, US dollar weakness and expectations of a reasonable global recovery were the dominant positive influences for the Aussie during the halcyon days from January to early July.

Of these three influences only one is currently providing

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