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The US and Australia operate floating exchange regimes, and they trade with each other. Early this month, the RBA increased the cash rate and, as

The US and Australia operate floating exchange regimes, and they trade with each other. Early this month, the RBA increased the cash rate and, as a result, the AUD is appreciating. Explain in detail why the AUD is appreciating in reaction to higher cash rate. Your explanation must emphasise the actions of US residents and Australian residents in relation financial assets. [7 marks]

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