The Canadian dollar recently passed the U.S. dollar in value. Can the Australian dollar be far behind?
Just five years ago, the U.S. dollar was more than double the Aussie dollar, and as of today, the two are approaching parity (as hasn’t been the case since 1982). I’ve never seen the AUD at 0.926 before.
I’d love to say I’m pleased because I can now afford to visit the USA, but:
a) I’m not overjoyed to see the US dollar tank for psychological reasons, and
b) selling things to Americans is less lucrative, so my eBay experience now sucks.
Part of it is that Australia’s commodity-based economy has been doing well, and that it goes through different cycles than that of the USD. But this article warns of a steep decline as investors pull out. Perhaps Gisele Bundchen is onto something.
h/t This Modern World.
7 November 2007 at 9:39 am
Wish I could ask to be paid in Euros!
And thank goodness that word verification thingo is gone.