Aussie Dollar edges closer to US90c

The Aussie dollar hit US$0.90 yesterday. :major
There is even talk of the Aussie dollar going to parity with the US$ (AUD$1 = USD$1). :cool

A far distant change from when I was in working in Africa in '92-''94.
Rate then was US$1 = AUD$0.66. It was great for me with my USD salary (converted to Aussie dollars) and banked into my Aussie account.

50% increase. US$4000 was AUD$6000, for example.

http://www.news.com.au/heraldsun/story/0,21985,22554925-661,00.html

Cheaper for our computer imports, for example, but hitting exporters hard. :cry

Bazza

 

Yeah! Really cool huh?!

 

Yea the Canadian Dollar was actually worth more than the US Greenback here last week $1.00 CDN = $1.006 US too. Seems that most countries have been attacking the Budget Debt, were as Bush has been increasing the USA Debt, and it is finally starting to show in the Money Exchange Market.

The trouble with it, is there is know strong Japanese Economy to bolster the US dollar like fifteen years ago, and I doubt the Chinese will help prop up the American Dollar. Which could spell some hard times ahead for all economies, for when the World's leading Consumer nation stops consuming, every nation suffers.