ExposAsia No 21/2011, Currency Games, shows just how vulnerable the Australian economy is to a reversal of fortunes in the capital flows that saw the Aussie dollar peak at over A$1.1/US$1 just a few weeks ago. Like so much in economics, any potential reversal in money flows - or risk aversion panic - will have widespread ramifications for the fragile Australian economy that lies outside the hyper-driven commodity sector.

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