Is A Reversal Of Australian Dollar Fortunes Such An Olympian Feat?
TECHNICAL ANALYSIS
Max McKegg believes an upturn is imminent for the currency after successive decline since 1996.
After the success of the Olympic Games in Sydney, the focus in Australia returns to economic matters--and in particular the prospects of the Aussie dollar.
The currency has lost about 34 per cent of its value against the US dollar since 1996: from 80 US cents to its current level of around 53 US cents.
Commentators have wheeled out the usual suspects: the current account deficit, interest rate
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