Thread: AUD goes past $1.10 against USD

"The Australian dollar has busted through the $US1.10 mark to hit its highest level since floating in 1983.
It briefly touched the record just after 10:30am (AEST).
The local dollar reached parity against the greenback in October and then fluctuated close to that mark.
But in the past six weeks the value of the Australian currency has risen 12 per cent on the back of strong commodity prices, weakness in the US dollar, and relatively high interest rates compared to the rest of the world.
Economists say the dollar has come a long way in the past decade after sinking to a low of 48 US cents in April 2001.
About 11:45am (AEST) the dollar was sitting just below its new record, buying 109.6 US cents."


Would be nice to see that reflected in the price of airfares to the US, then we can book for Orlando again, was sooo much cheaper flying UK -> Orlando.

Good for my on line shopping. Have been having a lovely time now buying from US and UK.

Hi Rob, the Canadian dollar is also above parity with the US dollar, its great isn't it.

Like you I wish they would reflect the rise in the prices. Because we share a border with the US we have alot of the same chains of stores. Most items are marked in Canadian and US prices.... would you believe that the US prices are usually about 10 to 20 % cheaper, but we still have to pay in Canadian dollars and pay the higher Canadian price.

Although I must say it is nice to be able to pop across to the border and get some shopping. A few weeks ago I drove over to Detroit... picked up a lovely pair of LA Gear Walk and Tone Runners for $20 US... which was about $18 Canadian... they were normally $80.

I am hoping that the US dollar stays low, as I want to go over to Michigan to do some back to school shopping later on in the summer.... selfish I know lol.... but the last time (other than around 2008) that the Canadian dollar was worth more than the US dollar was back in the early 70's... so got to grab these opportunities whilst they last....

Karen

Quids in on Ebay UK!

Its very bad for companies in this country of course, they are being priced out of the export market and tourism is being hit very hard as well. It is of course excellent for anyone heading back the other way or buying from overseas and not supporting Australian business.

Originally Posted by ophidian

Its very bad for companies in this country of course, they are being priced out of the export market and tourism is being hit very hard as well. It is of course excellent for anyone heading back the other way or buying from overseas and not supporting Australian business.

so iron ore and lpg and all the other stuff China wants to buy is over priced, or is it just that the USA and UK are on there knees and there currency is being downgraded ?