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Veksler: Why I like the hated Aussie dollar
The world still "hates" the Aussie dollar, but I still like it: the words of Ken Veksler, the Director of Accumen Management. Ken says as a fundamental trade, over the medium term, it will stabilise and could be far less volatile than other major currencies.
A little over a year ago, the AUD traded at a high of $1.08; now it's struggling to find support around $0.90. Interest rates are at record lows and a four-year high in unemployment is expected to be announced soon. More stimulus isn't being ruled out.
Ken says it's not unreasonable to see the Aussie down to 80 - 85 against the US dollar and it has the capacity to go about 10% above that over the medium term.
01:29 minutes
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