Why the RBA wants the dollar to keep cracking

Among other things, a much weaker dollar will help free up the RBA's ability to bring monetary policy to bear on the housing market.

The Australian dollar has now fallen nearly 6.5 per cent in only three weeks. Depending on your perspective, you can either blame or credit the US Federal Reserve board and hedge funds.

Since the financial crisis erupted in 2008, currencies have been driven by capital flows motivated by the monetary policies of the central banks of the major economies.

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