The Distillery: Coin a phrase

Jotters are concerned about the Fed’s influence on the Australian dollar, though one sees an upside for retailers.

The Federal Reserve’s decision to delay the tapering of QE3 doesn’t just reveal some lingering shortcomings in the US economy, it also results in some big-time money printing pushing the US dollar down and the Aussie dollar up. Down Under, that’s a downer, according to our business commentators.

Fairfax’s Ross Gittins, like all business commentators, describes the Fed’s decision as a “surprise,” noting that the Australian dollar’s decline since mid-April has narrowed to 10 per cent.

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