The villain has been Australia's dollar: Up 77 percent versus the yen since October 2008, it has helped send Japanese car imports to a record and sales of domestically made vehicles down 18 percent in four years.
It came as Goldman Sachs's Hong Kong office said in a note overnight that its �top trade recommendation� was to be short the Australian dollar versus the Norwegian Krone. Last week, high profile Bell Potter stockbroker Charlie Aitken predicted that a ...
INVESTMENT banks have continued to go cold on the Australian dollar, with Credit Suisse's global strategists telling clients the Aussie could fall to US85c in 12 months because "this time it's structural".
Wall Street saw its biggest one day swing in six months and the Australian dollar dropped overnight as investors raised concerns that the US Federal Reserve will scale back its stimulus program shortly.
SYDNEY�The Australian dollar's hefty monthlong decline continued Thursday after U.S. Federal Reserve Chairman Ben Bernanke hinted the central bank might start winding back economic stimulus in the coming months.