Research finds Australian dollar not safe haven in European Crisis

@Anon_GovWatchCA

Research finds Australian dollar not safe haven in European Crisis
http://m.phys.org/news/2013-04-australian-dollar-safe-haven-european.html …
Because it is a #GLOBALECONOMICCRISIS DAMMIT!!!


In the first ever study of its kind, Dr Ariful Hoque from Murdoch's School of Management and Governance looked at how six major currencies were affected by the crisis – providing insights into global investor confidence.

"While the euro depreciated against all the major currencies, a regressive analysis has shown that investors viewed the US dollar and Japanese yen as safe-haven currencies in which to invest, which led to strong increases in the prices of US dollar- and Japanese yen-dominated government bonds," Dr Hoque said.

"This was not the case for other currencies."

Dr Hoque said the US dollar was likely seen as a safe investment due to its historical stability and its autonomy – aspects that impacted the Australian and Canadian dollars in a converse way.

(More at the link.)