Hi MG,
I export to Australia; have investment positions in both AUD and USD....The Aussie has been in La La Land for the past 4 months....$.98 yeah, get real!
I think you will see a trading range 0.78 - 0.85 between now and the end of the year. There is currenly both a swing AGAINST the AUD and in FAVOUR of the USD.
I have just jumped in and brought Aussie's at US$0.835 this monrning (2:00am AEST), in New York.
You will see continuing weakness in the AUD, especially as the Res. Bank winds back interest rates.
Remember, the Australian curremcy is the 20th biggest in the world, and the 5th biggest traded currency i.e lots of speculation in the AUD.
Hope this helps.......Are you taking forward currency positions to cover your import purchases as they fall due?
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