A greenback drag on the US recovery

While Australian markets fixate on our dollar, the fickle movements of the greenback will have a much bigger impact on all of us.

There has been the usual hand-wringing in recent weeks about the impact of a sliding Australian dollar, but investors at home have yet to pay close attention to the flip side of that coin.

The reason the domestic currency has fallen in a heap – 7 per cent against the greenback in the past month – is mostly a function of the remarkable surge in the US dollar.

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