Hi Karasco,
At an AUD/USD rate of 0.75, you will get AUD $1 for every USD $0.75.
This is a ratio of $1.33 AUD for every $1 USD.
At the moment, the rate is hovering around 0.71. This would get you $1.41 AUD for every $1 USD you have.
This was why I multiplied by a factor of 1.40.
If the rate drops to 0.67 for example, then you would get about $1.50 AUD for every $1usd.
One would expect the AUD to strengthen with the high FE price but with low inflation and wages growth and employment numbers that are not as rosy as the headline rate show (I’ve actually written a couple of articles about this on my linked in page you can read) the AUD is likely to remain subdued for some time to come.
Cheers
Iron ore price, page-10905
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