The issuer of Australian state bonds predicts that the US dollar will drop another 10%.

The move by the New South Wales government bond management company to reduce its exposure to the US dollar has been profitable, and this state issuer in Australia is also prepared for a further weakening of the US dollar. The state's investment management department's long-term investment Stewart Brentnall said that the shift to defensive currencies such as the yen, franc and euro a few years ago reduced the weight of the US dollar in the investment portfolio currency basket from nearly three-quarters to 14%. This has increased returns, and the fund currently predicts a further 10% drop in the US dollar.