So that was quick.
It was only five weeks ago that we carried a piece on Goldman Sachs research predicting the Australian dollar could go as low as 90 cents, and now it’s pretty much there.
Today it’s at a three-year low, after falling for five days in a row. That’s big news for a currency that for so long refused to budge.
It had already started to come down, but after Ben Bernanke hinted that he might stop buying the United State’s own bonds, it took a serious tumble.
Then the Flash China PMI came in at a nine-month low shortly afterwards, and here we are, with the dollar hovering just below 92 cents this morning. It has gone as low as 91.5.
When it put the research out, Goldman Sachs outlined the reasons why it thought the dollar would come down. Check them out here.
Now read: The Australian Dollar Could Go As Low As US90c Over The Next 12 Months
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