Business
The plunging US dollar has wide ramifications for Australia and the world – Sydney Morning Herald
The Aussie dollar is set to stay stronger for longer with the greenback facing a dismal 2021, but it will cause the Reserve Bank some angst.
The Reserve Bank, having nearly exhausted its monetary policy armoury by driving the cash rate down close to zero deploying quantitative easing buying bonds to force longer term rates down, would be frustrated by the surge in the dollars value, which undermines the competitiveness and value of exports largely denominated in US dollars and acts as a deflationary force on the economy.
That makes the future of the US dollar of consequence for the Australian economy and, indeed, the global economy….
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