We’re always hearing about how the Australian dollar compares to the US dollar, and its value is vital to many in the business world. But how many of us actually know what drives the Aussie dollar? A Forex expert explains.
The Australian dollar has slipped below parity with the US dollar overnight, trading as low as US 99.961c overnight, remaining below parity in morning trade.
There has been much talk and speculation recently with the Australian dollar hitting parity twice with the US dollar in the last month alone (the last time parity occurred was in July 1982).
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’.
