Pellets @ 115 USD, page-7

My take ...

the US$ is stronger relative to all currencies, driven I suspect because of a proposed interest rate hike in December. There may well be a rush to safe haven currency because of who knows what trump will do to the rest of the world and its trading partners ...

Equally, the AUD
~ has been hit by a soft employment report;
~ the world is not overly convinced that the current commodity (esp. io and coal) is sustainable and so not rushing for AUD;
~ inflation is insistently below the RBA's mandated target between 2 - 3% ... that's there job ... and if were not for RBA's concern that we irresponsible hideous mortals would just borrow more money to buy more houses, an interest rate cut would be inevitable.

GRR sells its product in US$ but the overwhelming majority of its costs are in A$. So GRR enjoys a lower dollar.

I can see a 6 handle on the currency while the RBA babble around waiting for what maverick Trump might do but my take is that the A$ enjoys a 7 handle.

Have a good weekend.