The Aussie dollar is ploughing through the mid-76 range today:
There are a range of reasons with iron ore ramping again and the good run of local data. But the major trigger is a weak USD which is, in turn, falling thanks to a break out euro:
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There is no immediate end in sight for this dynamic. As said over the last few weeks, as markets readjust to rising real interest rates on both sides of the Atlantic, the eurozone has a lot more easing priced into its markets that must be unwound than does the US.
