For months, there has been a never-ending series of excuses for why interest rates can't be trimmed, even just a touch. Now some are whipping up a frenzy about a new apparent danger — a plummeting currency.

Home buyers armed with U.S. dollars have a moment of opportunity to seize a favorable exchange rate in Australia.

EQ Economics chief economist Warren Hogan says the drop in the Australian dollar may reflect “pressure” on the Reserve Bank to cut rates.