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Thursday, March 26, 2020

The exchange rate is doing its bit

By Andrew Woods  |  Source: AWEX, RBA, ICS

Last week the Australian dollar dropped by over 4 cents in one day against the US dollar, a classic reaction to turbulent events around the world. This was the second largest one day fall in the Australian dollar since it was partially floated in the early 1980s. The lower exchange is helping to cushion the down cycle in wool prices seen since 2018.

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