Investors may want to consider increasing exposure to Australian dollar-denominated assets or reviewing hedging strategies that benefit from a stronger currency.
A bout of stronger-than-expected US economic data (non-farm payrolls, unemployment, and retail sales) has since seen the Australian dollar fall to approximately 66.5¢. The question for investors is, where to next for the local currency?
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Todd Hoare is head of public markets at LGT Crestone.
