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I think a falling Australian dollar is good for our economy...increases our revenue from exports (helps the terms of trade) making us more competitive globally. Might also offset falls in global commodity prices to some extent. Is also good for our local tourism industry. I understand...

That should make things a bit easier for some...great day for RBA to be considering rate cuts with 7.85% falls in London stockmarket overnight and 3.5% fall in the Dow. Sort of explains the rapid fall in the Australian dollar against $US...fell under 70c at one point in the last 24 hours now...