The money is betting against the Dollar and the Banks

The Fed's tapering looking to hit Australia hard - 

When Stanley Druckenmiller, the legendary hedge fund manager, told an investor conference in New York a month ago that the Australian dollar was overvalued and would “come down hard”, local traders took note.They reasoned Mr Druckenmiller’s comments would be the cue for the hedge fund world to gang up on the Aussie, particularly as it was already struggling against a resurgent US dollar.
They were right.
Bearish wagers against Australia’s currency have risen to the highest level on record, according to the latest figures from the US Commodity Futures and Trading Commission. They show a net 58,600 contracts worth a notional A$5.86bn (US$5.5bn) are betting against the Aussie.(here)

And as for the banks (only weeks ago market stars):

International investors are bailing out of Australia's banks as the United States prepares to wind back its economic stimulus programmes and the Australian dollar tumbles.
Shares in the big four banks were sold off this month after US Federal Reserve chairman Ben Bernanke said the central bank would begin slowing the pace of its quantitative easing stimulus later this year.
Among Australia's big four banks, only shares in Westpac and ANZ are traded on the NZX. Westpac shares fell from a high of $41 in May to a low of $32.70 on June 21, a decline of more than 20 per cent. ANZ shares dropped from $38.30 on May 1 to $32.60 on June 21. (here)