The Aussie dollar has surged past parity with the US dollar, reaching as high as US1.0062 after the US Federal Reserve announced that it would buy $600 billion in treasury bonds in an additional round of ‘quantitative easing’ to prevent deflation.
The Aussie dollar has failed to reach parity with the US dollar after coming as close as US 99.94 cents yesterday as profit takers moved into the market ahead of the release of US economic data tonight Australian time.
The Australian dollar has hit US99.37c this morning as concerns the United States Federal Reserve will reflate the currency as soon as November continue to weaken the US dollar.
Everyone is talking up whether our dollar will reach parity with the US. In my opinion, the Australian dollar will not only reach parity but move to between $1.10 and $1.20 over the next 6 to 12 months.
The Australian dollar has broken US98c, trading at US$0.9845 after the Australian Bureau of Statistics revealed strong employment numbers for the month of September this morning.
The Australian dollar is set to break US98c after trading as high as US$0.9792 this morning on the back of concerns the United States Federal Reserve will reflate the currency.
The Aussie dollar continues to surge towards parity with the US dollar, reaching US97.3c overnight and hitting parity with the Canadian dollar, affectionately known as the ‘loonie’.
The Australian dollar is trading at a two year high against the US dollar, hitting US96.08c during early trade this morning.
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