MARKETS SPECTATOR: Divided on the dollar's drop

Those managing money are split on what the Australian dollar's prospects mean for local stocks.

The sun burnt splendor of the Australian dollar may be over, those on the ‘buy-side’ agree, but they are divided as to what the strength of the US dollar means for the S&P/ASX 200 Index.

For hedge fund manager David Hobart of Blue Sky, the slide in the Aussie from 105.5 in the middle of April to below parity is a shift out of stocks to US short-dated treasury bonds or cash. 

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