$ exchange rate-should i buy now?
Jun 6th 2005, 11:25 am
#31
ah-beng
Joined: Aug 2004
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Posts: 3,113
Re: $ exchange rate-should i buy now?
The interbank target rate quoted from CNNFN today was 66c against the us$ whereas its about 77c now, so they're expecting it to fall substantially(better for peeps from UK ) but its going to rise before it falls, they reckon peak at 78c and then drop to 66 over next quarter. The article was on cnnfn or australian newspaper sites.
Edit - Found it on australian newspaper, the version I saw first earlier today referenced 66c target. This one doesnt.
HE dollar closed almost half a US cent stronger today, as it pushed through the US76c level on the back of weak US economic data.
At 1700 AEST the local currency was trading at $US0.7599/02, compared to Friday's close of 0.7553/58.
During today's session it remained in a tight range, touching a low of $US0.7552 and a high of 0.7608.
The local unit last traded above US76c on May 31.
ANZ currency strategist Craig Ferguson said the dollar looked set to continue higher, against the backdrop of weak US data and a softer US dollar.
Edit - Found it on australian newspaper, the version I saw first earlier today referenced 66c target. This one doesnt.
HE dollar closed almost half a US cent stronger today, as it pushed through the US76c level on the back of weak US economic data.
At 1700 AEST the local currency was trading at $US0.7599/02, compared to Friday's close of 0.7553/58.
During today's session it remained in a tight range, touching a low of $US0.7552 and a high of 0.7608.
The local unit last traded above US76c on May 31.
ANZ currency strategist Craig Ferguson said the dollar looked set to continue higher, against the backdrop of weak US data and a softer US dollar.
Last edited by spalen; Jun 6th 2005 at 11:29 am.
