Aussie dollar loses break point
Monday 31st January 2021Whilst it was quite a night for Rafael Nadal, Friday had a less positive ending for the Aussie dollar, falling below 70 US cents to its lowest level since mid-2020, despite rising commodity prices. NAB’s Ray Attrill says the sharp fall could be the result of portfolio rebalancing by Aussie investors, which means it could stay low today but recover after month-end. We’ll see. Meanwhile equities bounced back in the US on Friday but markets are still choppy. Wages grew slightly less than expected in the US in Q4 and consumption has slowed, which makes the path for…
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