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The Aussie has slowed its decent from the 80c region although there are no clear signs of a low yet, our preferred scenario remains we see a base ~70c before another leg higher towards 90c in line with our reflation view but this is likely to take a few years assuming we are correct, hopefully just in time for some post COVID overseas holidays!

MM believes the $A is looking for a low
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Australian Dollar (AUDUSD)
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