A$ Hits High Against US$
April 25, 2008
April 25, 2008 -- The Australian dollar (A$) punched through the 95 U.S. cent mark for the first time in almost a quarter of a century.
According to the Woolmark Company, the continuous depreciation of the U.S. dollar (US$) against the Australian dollar in the 2007-2008 season has eroded some of the gains to Australian wool producers from higher wool prices. The American currency plays an important role in determining the level of wool prices with the majority of wool export contracts from Australia written in US$.
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