Markets: The Aussie's euro slip

For the first time since 2008 the euro is doing better than the Aussie dollar and, according to the OECD, the cross-country coin is still undervalued by 24 per cent.

Commodity prices have been volatile reflecting concerns about future growth, and forecasts for Australia’s growth have weakened. Now the currency market is starting to catch up with this reality. The euro has outperformed the Australian dollar for the first time since 2008.

It also highlights the broader theme of Asian economies slowly starting to fall out of favour with more developed western economies. There has been much talk about not only Australia’s growth, but global growth being leveraged to China.

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