There is a slowing growth environment in Australia, evident predominantly in the housing market. There is also continued narrowing in the interest rate differential. |
Traders are coming in every morning with a bias to sell dollars. The market expects that irrespective of the data, the Fed is going to pause after its next meeting. |
We wanted to be able to do serious work for serious people right away. We don't want to just be doing ads for the condom shop or something. |
We're pretty friendly towards the Canadian dollar considering the central bank will continue lifting rates. |
You have to feel confident the next 2 cents in the Australian dollar is down and not up. The market is beginning to contemplate the weakness of the domestic economy in the next 12 months. |