Deverell dials down the dollar

Credit Suisse's head of foreign exchange strategy says the Reserve Bank will be happy with the falling dollar, which should reach 75 US cents in 12 months.

The Australian dollar’s 12.2% fall since April 1 is all going according to the Reserve Bank of Australia’s plan, says Ric Deverell, a former deputy head of economic analysis at the Reserve Bank and now Credit Suisse’s head of foreign exchange strategy.

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