AUD hits 89.36 cents

And, there it is...

The resilient Aussie dollar finally cracks and drops below 90 cents hitting 89.36 cents down from 106.24 cents in just a few short months, before bouncing a little.

That's great news for the economy and the lowest level we have seen since September 2010, nearly three years ago.

Perhaps the market is anticipating more than one interest rate cut yet...

It's been a long, long time coming, but this is welcome and excellent news for Australia's exporting economy.

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