The story, posted by Chris for those who didn’t pick it up from the comments section, that really gave encouragement to the bears was this one.
RBA Professor McKibbin Professor McKibbin said the floods would weaken Australia’s entire economy’If you look at the infrastructure damage and all the networks that have been broken, a hit to the economy of 1 per cent is not out of the question.”
A 1 per cent hit to the economy would cost $13 billion.
The low on my pro platform was 06, though my retail platform suggests 04, AUD/USD now at 0.9823
