If the A$ went to $1.25 this most likely will be due to a devaluing of the $US rather then $A appreciating. Most of the $A good fortunes has been against those currencies that have been "Printing Money" such as US, EURO, GBP and even the Swiss Franc which has tied itself to the Euro at CHF1.20 to the Euro. When you compare $A to the more stronger currencies like the Yen(until recent times), RMB, Danish and Norweign Kroner we haven't really appreciated much or at all.
As such an $A at 1.25 I think would mean Gold at US$2000 or $A1,600, another words not too much change in Aussie terms.
pog, page-37
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