Posted 16 minutes ago
Updated 12 minutes ago
The Australian dollar has reached an 18-year high against the
greenback. (ABC News: Giulio Saggin)
The Australian dollar has opened at almost 89 US cents this
morning, after peaking at a new 18-year high against the
declining United States dollar.
The local currency peaked at 88.94 US cents this morning - its
highest level since February 1989....
More:
http://www.abc.net.au/news/stories/2007/10/01/2047661.htm
See also:
Dollar hits 89 US cents
October 01, 2007
THE dollar has hit 89 US cents for the first time since February
1989 after strong interest in the euro and the NZ dollar pushed
the local currency to a fresh 18-year high.
The domestic currency reached $US0.8901 at 10.31 AEST to trade up
strongly from Friday's close of 0.8823/29.
http://www.theaustralian.news.com.au/story/0,25197,22510551-36418,00.html
See also earlier article
Greenback dives as currencies realign
David Uren | September 22, 2007
THE Federal Reserve's big rate cut has sparked a flight from the
US dollar and US assets generally that threatens to unravel the
recycling of Asian and petrodollar surpluses to finance the
gaping US budget and trade deficits.
trader
Asian and Middle Eastern monetary authorities are now facing
unprecedented pressure to break their currency ties to the US
dollar because of the greenback's weakness, with some possibility
that the long-established US dollar pricing of oil may not
survive the shift in currency alignments. ". . . More at:
http://www.theaustralian.news.com.au/story/0,,22460284-643,00.html?from=public_rss
Posted 12 Noon AEST, 1 October
Personally, I don't consider this as an OT post but will label it
as such to keep everyone happy. :-)
Cheers,
Kangaroo16 |
