Nov 25, 2004 (The Daily Telegraph - ABIX via COMTEX) -- Australian exporters and the tourism industry will be hard hit by the continued rally in the Australian dollar. The currency approached $US0.79 on 25 November 2004, prompting TD Securities' Stephen Koukoulas to describe it as overvalued. He notes that the higher dollar will result in more Australians travelling overseas for holidays, while fewer foreigners will visit Australia. The Treasurer, Peter Costello, has also noted the impact that the strengthening currency is having on exporters.
