Banks Forecast A$ to Stay High
August 27, 2010
The past two weeks capped off another volatile period for the Australian dollar (A$), which shed over 2 cents or 3 percent of its value in recent days, to finish last Thursday at 90US¢ - 8 percent higher than a year earlier.
A higher A$ has weighed heavily on export prices this year, with several periods of extreme fluctuations also proving difficult. While many exporters would hope that the A$ starts to decline heading towards 2011, forecasts remain mixed, with most of the major Australian banks predicting a range between 85-92US¢ through to June next year.
Reprinted from Meat and Livestock Australia
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