Here are 3 ways to profit from a weak Australian dollar

I think the Cochlear Limited (ASX:COH) share price is one of three which could get a big lift if the RBA cuts rates three more times like Credit Suisse has predicted. Here's why…

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The Australian dollar may have fallen over 4% in the last two months, but there could be further declines to come in the future it seems.

According to a research note out of Credit Suisse this morning, courtesy of the Sydney Morning Herald, the investment bank believes the RBA may have to cut rates three more times.

Although the recent job numbers were better than expected, the fall in full-time jobs is a big concern for Credit Suisse.

Its analysts believe this is a sign that the Australian economy is falling short of its potential and that "the output gap is at levels historically consistent with another cash rate cut."

Whilst the general consensus is that rates will remain on hold for the foreseeable future, I wouldn't be surprised to see rates taken lower if the Australian economy continues to misfire.

If rates are taken lower I believe it will put significant pressure on the Australian dollar, sending it as low as 70 U.S. cents.

Three companies which I think would be big winners from a weaker Australian dollar are listed below:

Ardent Leisure Group (ASX: AAD)

Whilst it is best known for its embattled Dreamworld business, the main breadwinner for the company is its Main Event business in the United States. At present Main Event accounts for 63% of the company's EBITDA, but I expect this to increase even further over the next few years as its aggressive expansion continues.

Cochlear Limited (ASX: COH)

Whilst its shares are a touch expensive, Cochlear would have to be one of the highest quality businesses on the ASX in my opinion. This could make it well worth paying a premium to own its shares, especially if the Australian dollar declines. After all, a significant portion of its sales come from the North American market.

Nanosonics Ltd. (ASX: NAN)

This infection control company recently reported an incredible 131% jump in half-year sales to $36.1 million. As the vast majority of these sales were generated in the enormous U.S. market, I believe that Nanosonics is a company that is likely to benefit greatly from favourable currency movements.

Motley Fool contributor James Mickleboro has no position in any stocks mentioned. The Motley Fool Australia owns shares of Nanosonics Limited. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

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