The Aussie dollar is fading tonight, and really it’s been getting smoked since the beginning of April.
The first is the China slowdown, which obviously hurts Aussie exports.
The second is the weakness in commodities, which is partly, but not totally related to the China slowdown.
And then finally, everything’s underperforming against the US Dollar, which is in beast mode.
Meanwhile, as Reuters noted last week, shorting the Aussie is a popular hedge fund play, so the sharks smell blood.