The Australian dollar has dropped below 90 US cents for the first time since March, which should give businesses a glimmer of hope for better times ahead.
The dip took the Aussie as low as 89.85 US cents on Monday afternoon, and appears to have been prompted by a surge in the value of the US dollar against most other major currencies.
A lower currency is a double-edged sword.
It makes imports more expensive, adding to the cost of living.
It also makes central banks more reluctant to keep interest rates low, for fear of over stimulating the economy and allowing ongoing price rises to set in.
For some businesses, dependent on foreign supplies of raw materials and equipment, it can make the cost of doing business more prohibitive.
But by and large, it has a positive effect, because it lowers business costs relative to other countries, making local industries more competitive.
It's widely thought the main beneficiaries are those businesses competing directly with foreign businesses.
But the positive impact is more widespread - kitchen installers or lawn-mowing businesses in western Sydney are competing for the same dollars that might otherwise be spent on a holiday in Bali or a pair of shoes made in Italy.
When the RBA cuts interest rates to stimulate economic growth, up to half the effect on the economy comes via a lower exchange rate, as foreign investors are less attracted to money market rates.
So the RBA has been frustrated by the Aussie's stubborn strength, repeatedly referring to declines in export commodity prices which would normally signal a lower exchange rate.
Most recently, RBA boss Glenn Stevens pointed to the currency being "above most estimates of its fundamental value" as he announced interest rates would be left unchanged two weeks ago.
"It is offering less assistance than would normally be expected in achieving balanced growth in the economy," he said in the statement.
The latest fall should give him some encouragement that the Aussie is heading in the right direction.
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