The RBA plays a dangerous game with its dollar bet

Despite its best efforts, the RBA still hasn't been able to lower the exchange rate. Glenn Stevens better figure out how to drive the dollar down before mining investment collapses.

Reserve Bank of Australia Governor Glenn Stevens fronted the House of Representatives this morning to provide testimony on the state of the Australian economy. The RBA remains optimistic about the outlook but it’s playing a dangerous game that could blow up in its face if the Australian dollar doesn’t depreciate.

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