June 20, 2003
On Thursday, the Australian dollar hit a four-year high, closing at 67.3 US cents. According to Australia?s trade development agency, Austrade, they believe the agricultural industries are well placed to handle movement in the exchange rate.
?I think it affects farm incomes, but in the medium term, export volumes will still grow. So I think we?re still internationally competitive,? stated Tim Harcourt, Austrade chief economist.