There is a chorus of currency bears who think the red-hot rally in the Australian dollar could start to come unstuck by Christmas as the market begins to dial back its expectations of higher interest rates.
The Aussie, often traded as a proxy for growth, has defied expectations this year by soaring more than 8 per cent – making it the top performer of the G20 nations – despite the threat to the global economy from the Middle East conflict and surging oil prices.
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