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I guess we need to look on the bright side.
A stronger $AUS is important for a CAD country that is determined to maintain course and attempt to drive economic activity with hundreds of billions of household debt and government debt sold to overseas buyers.
Yes, it is very harsh on the export and import competing industries but everyone knows that is a small price to pay to make room for our true growth industries – bidding up asset prices, reality based lifestyle shows, digging up dirt and selling each other flat whites.
Sorry – my foot long mutton chops simply demand a flat white and something thoroughly de-gluted. I cannot get the Dragster out of 1st gear without a perfect pick me up.
A falling $AUS is Gov Glenn’s worst fear.
It would put upward pressure on interest rates and stress test the asset price ice sculpture he has been working on all summer.