AUD breaks new lows
A timely if not prescient blog post yesterday with the Australian dollar going on to break new lows with a close at just 80.8 US cents.
Having brushed 80.79 during the trade, this is the lowest close we have seen since 2009.
It has taken a while to play out but the entrenched downtrend remains in place.
Analysts expect that we could see 75 cents during 2015, which would please the Reserve Bank.
As ever with such trends there is the risk of an overshoot to the downside.
During 2008 the Aussie dollar plummeted from well above 90 cents down close to 60 cents, so it can be a volatile beast.
Not a lot of drive to blog much else today.
Thoughts with friends and former work colleagues in the Adelaide Hills districts where bushfires have been burning out of control as temperatures soared to well above 40 degrees.
Conditions have been reported as the worst since the tragic "Ash Wednesday" bushfires of 1983 when drought combined with hig temperatures and extreme high winds claimed dozens of lives.
Australians as always grateful to its amazing CFS volunteers and workers.