Australian dollar pulverised by US boom

David Llewellyn-Smith

Thursday 24 September 2026

DXY hit the afterburners after face-ripping US PMIs.

AUD was pulverised. The carpet was torn out from under North Asian forex as well.

The twins of doom aren’t happy. My gold vol play is working nicely against gold itself.

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About the author

David Llewellyn-Smith is Chief Strategist at the MB Fund and MB Super. David is the founding publisher and editor of MacroBusiness and was the founding publisher and global economy editor of The Diplomat, the Asia Pacific’s leading geo-politics and economics portal. He is also a former gold trader and economic commentator at The Sydney Morning Herald, The Age, the ABC and Business Spectator. He is the co-author of The Great Crash of 2008 with Ross Garnaut and was the editor of the second Garnaut Climate Change Review.