[VOA]

Australian dollar off almost 8.6% on the day against the USD.
One bank said they are seeing literally NO BIDS in the Australian dollar,
which is huge considering that you can usually trade several million
with the click of a mouse.

I'm an absolute moron on valuations of currencies.

But your report on the Austalian dollar seems shocking to my
naive brain.
As the last page of the editorial pages of The Wall Street Journal
(just before the last "A" page that usually is just a big advert)
is penned by an Australian summing up the situation of how liberal
the US mortgage system (no-recourse home loans) is versus the
conservative (sensible in VOA's book) nature of mortgages in
Australia.

[Thane_Banquo]

Australian banks are having problems as well, and their economy is dependent on China and commodities doing well.