re: aussie $ at 59.77!!!!!!!!!!!! now 59.46!
cerob, you say strong economies have strong currencies. I have problems with that view. The Aus economy has been out performing other advanced economies in terms of GDP growth rates for years yet the currency has kept dropping. No one seems to have noticed it. I think hedge funds have found it rather easy to manipulate currencies to their own ends with no regard to the underlying strength of an economy.
I can accept that a low currency does not translate automatically into growth in an economy and growth in exports, you need enterprise and other factors as well.
