Australian dollar hits 23 year high
 

I want to cry...

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"The Australian dollar rose to the highest in 23 years on speculation the central bank will raise interest rates next month to slow inflation, widening the nation's yield advantage over the US.

Australia's dollar is the best performer among the 16 most- active major currencies in the past month as the central bank this month increased borrowing costs to an 11-year high of 7%. By contrast, traders are betting the Federal Reserve will cut rates in March as reports show US home prices and consumer confidence fell.

The Australian dollar rose as high as 94.34 US cents at 7.50am in Sydney, the most since March 1984. It recently traded at 94.27 US cents.

''The Australian dollar is one of our favored picks,'' said Sue Trinh, a currency strategist at RBC Capital Markets in Sydney. It's also ''an environment that's slanted toward US dollar weakness.''

The Reserve Bank of Australia will probably raise its benchmark interest rate by a quarter-percentage point next week to 7.25%, according to all but 2 of 24 economists surveyed by Bloomberg News. That would increase the nation's interest-rate premium over the US to the most since July 2004.

The RBA lifted rates earlier this month to slow inflation while the Fed slashed its benchmark in January by 1.25 percentage points to stave off a recession led by a housing slump.

Fed funds futures on the Chicago Board of Trade indicate a 86% chance policy makers will reduce the target rate for overnight lending between banks by a half point to 2.5% at their next meeting in March."

Thats just great

I feel your pain

fuck shit piss mother fucker cunt

Holy shit! That's not good. Another fucking interest rate...just fucking terrific! How I long for the good old days of 48 cents to the dollar!

Unbelievable.

Thank fuck for the euro is all I can say.

-N

I dont think it's peaked either. It seems inevitable it will surpass the dollar for dollar mark this year.

I think your right :(

Get yourself a foreign currency account , sit on your cash ...it will fall and when it does it will be hard and fast !!

Ray

I might have to look into that. How does that work regarding company tax? Do you pay your 30% on the US amount and then another 30% on the difference once you convert it to AU?

i know what you mean

when i started doing porn it was about 40c nz
now its 82c nz


at one stage i was going to porn full time


i worked it out with the $$ i made from porn at 40c nz

i could of bought a house for that

As the worm turns. $AU currently at 65c... 6 months is a long time in politics

Remind me never to ask you for market or football tips.

:1orglaugh:1orglaugh:1orglaugh:1orglaugh:1orglaugh

its awesome. i get paid US dollars by my affiliates. and i dont have a mortgage

It's a corker isn't it, a license to print money again. :)

-N

$.65 cents at the moment. This is fan 'fucking' tastic!

I'm lovin it....time to frigging hammer your efforts aussies and bring in some more dough while the sun shines...

1 AUD = 0.653702 USD 1 USD = 1.52975 AUD

Fuck am I looking forward to go to the bank tomorrow :D