Bank Predicts Dollar Parity Next Year
December 4, 2009
The National Australian Bank (NAB) Agribusiness predicts the Australian dollar will reach parity with the U.S. dollar next year. The Australian dollar has been hovering between 91 and 94 U.S. cents.
NAB's head of agribusiness wholesale banking, Rod Fraser, says the Australian dollar will continue to rise.
"We believe that the Australian dollar will peak at US$1.03 in the September quarter 2010," he says.
Reprinted from ABC, Australia
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