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[Sparkles]

The Aus dollar fell a full cent today against the greenback. Speculators saw the Japanese nuclear problem and consider the US$ and Japanese Yen as "safe havens" and Aus as a risky investment. Seeing as we have minerals,the world wants,still in the ground and not going anywhere I thought the opposite would be more likely.

[Naam]

actual reason is that japanese investors and big hedge funds are closing their carry trades. meaning they used to take loans in low interest JP¥ and invest in high yield currencies like AUD, NZD, ZAR, BRL and TRY and collect the difference in interest as profit. when they close these trades the sell the latter, repurchase JP¥ to balance their loans.

[samran]

sure, the world wants our minerals. All that will happen is that as the AUD goes down the price asked for these same minerals in USD terms goes down as well.

Same same, but different.

All this tells me is how over inflated the AUD is.

[Naam]

Speculators saw the Japanese nuclear problem and consider the US$ and Japanese Yen as "safe havens" and Aus as a risky investment.

speculators dropped the USD too which fell against EUR, British Pound, Swiss Franc and a bunch of other currencies.

[Chang_paarp]

Don't worry, it will return to the heights of over 30B/$ soon enough.

Unfortunately it is happening just as I am about to visit.