Markets: Dollar direction dilemma

If the Australian dollar hits Credit Suisse's predicted US 75 cents it will be good for the non-mining economy, but investors may be hoping the currency reverses its course.

Credit Suisse’s global head of foreign exchange, commodities and Asian strategy, the London-based Ric Deverell thinks a fall in the Australian dollar to 75 US cents spells good news for the local economy. But the stock market may not like such a sharp deterioration in the value of the local currency. It would mean a 17 per cent fall from 90.68 US cents as of 0855 AEST, according to Bloomberg data.

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