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How high can the Aussie dollar go


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tobster

The Aussie dollar is going up and up against the US dollar but can anyone explain why it doesn't rise as high against the RP peso?

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Ozepete

I think it's because both the Aussie dollar and the Phils peso are strengthening and the US dollar is declining. Although the Aussie is somewhat higher against the peso, was only 38- 39 a few months ago.

Don't be surprised if the Aussie doesn't get to 1.10 or 1.20 and the peso to 40 or less before the US$ starts to climb back. IMHO! scratch_head.gif

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I have a theory that the US dollar has been trading on it's reputation from the past for a long time now... that seems to be changing IMO....

However I am pretty much clueless in regard to currency and exchange rates.....

Perhaps Steve Matrix or some other learned person on here can explain it..

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because it is NOT the aussie dollar going up, but the us dollar going down

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InternetTough

The Korean won is gaining against the dollar. The Korean government buys dollars to try to keep the won down, but they can only do so much. I don't think that the won has gained much against the peso this year, but I haven't been checking that closely.

Edited by InternetTough
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thebob

It was Brazil's finance minister who first officially declared that hostilities had begun. Guido Mantega confirmed on September 27 what other governments had been denying. The world, he said, was in a state of "currency war".

 

If so, Australia is one of the biggest losers. Countries everywhere are trying to cheapen their currencies to win a competitive edge over each other in world export markets. It's classic "beggar they neighbour" stuff.

 

By doing this, a country seeks advantage at the expense of others, trying to push its economic misery onto its competitors. When a number of big countries do this at once, you have a "competitive devaluation", a race to the bottom.

 

Just as Mantega said: "We're in the midst of an international currency war, a general weakening of currency. This threatens us because it takes away our competitiveness."

 

And just as this is happening, just as governments elsewhere pursue the lowest value they can for their currencies, Australia's dollar has achieved a record high. It's a perverse victory, an apparent win for national pride that qualifies us for economic punishment.

 

For the first time in history markets put virtually the same price on the Australian dollar and the US dollar last Friday at 11.17pm when one Aussie was traded, fleetingly, for $US1.0003.

 

The only other times the Australian dollar has been traded for as much as the greenback was when it was decided by government decree. The last time was 1982.

 

Since the Aussie was allowed to freely "float" at about US91

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Ozepete

It was Brazil's finance minister who first officially declared that hostilities had begun. Guido Mantega confirmed on September 27 what other governments had been denying. The world, he said, was in a state of "currency war".

 

If so, Australia is one of the biggest losers. Countries everywhere are trying to cheapen their currencies to win a competitive edge over each other in world export markets. It's classic "beggar they neighbour" stuff.

 

By doing this, a country seeks advantage at the expense of others, trying to push its economic misery onto its competitors. When a number of big countries do this at once, you have a "competitive devaluation", a race to the bottom.

 

Just as Mantega said: "We're in the midst of an international currency war, a general weakening of currency. This threatens us because it takes away our competitiveness."

 

And just as this is happening, just as governments elsewhere pursue the lowest value they can for their currencies, Australia's dollar has achieved a record high. It's a perverse victory, an apparent win for national pride that qualifies us for economic punishment.

 

For the first time in history markets put virtually the same price on the Australian dollar and the US dollar last Friday at 11.17pm when one Aussie was traded, fleetingly, for $US1.0003.

 

The only other times the Australian dollar has been traded for as much as the greenback was when it was decided by government decree. The last time was 1982.

 

Since the Aussie was allowed to freely "float" at about US91

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smokey

well if the US stopped supplying military presence and aid , as well as grants , and gifts , as well as emergency aid to every country in the world they would not have to depress the dollar... I say for a strong dollar .... first remove all support and troops from ,,, Korea, japan, guam, middle east, Germany, etc etc savings billions upon billions... Stop supporting mexico drug war, india and africa and other countries fight against hunger, savings billions upon billions.. every time the weather kicks up each country runs to the US and the UN looking for aid stop that how many countries send help and aid during the Katrina crises??? savings billions upon billions with all this money saved every american can not only have lower taxes but free medical ,,,

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It was Brazil's finance minister who first officially declared that hostilities had begun. Guido Mantega confirmed on September 27 what other governments had been denying. The world, he said, was in a state of "currency war".

 

If so, Australia is one of the biggest losers. Countries everywhere are trying to cheapen their currencies to win a competitive edge over each other in world export markets. It's classic "beggar they neighbour" stuff.

 

By doing this, a country seeks advantage at the expense of others, trying to push its economic misery onto its competitors. When a number of big countries do this at once, you have a "competitive devaluation", a race to the bottom.

 

Just as Mantega said: "We're in the midst of an international currency war, a general weakening of currency. This threatens us because it takes away our competitiveness."

 

And just as this is happening, just as governments elsewhere pursue the lowest value they can for their currencies, Australia's dollar has achieved a record high. It's a perverse victory, an apparent win for national pride that qualifies us for economic punishment.

 

For the first time in history markets put virtually the same price on the Australian dollar and the US dollar last Friday at 11.17pm when one Aussie was traded, fleetingly, for $US1.0003.

 

The only other times the Australian dollar has been traded for as much as the greenback was when it was decided by government decree. The last time was 1982.

 

Since the Aussie was allowed to freely "float" at about US91

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well if the US stopped supplying military presence and aid , as well as grants , and gifts , as well as emergency aid to every country in the world they would not have to depress the dollar... I say for a strong dollar .... first remove all support and troops from ,,, Korea, japan, guam, middle east, Germany, etc etc savings billions upon billions... Stop supporting mexico drug war, india and africa and other countries fight against hunger, savings billions upon billions.. every time the weather kicks up each country runs to the US and the UN looking for aid stop that how many countries send help and aid during the Katrina crises??? savings billions upon billions with all this money saved every american can not only have lower taxes but free medical ,,,

 

 

Thats a little short sighted, as then the US will be giving up all its political influence, which the above effectivly buys. It money well spent when you consider the bigger picture.

 

They might have to do that someday, but that will be a last resort, accepting that they cannot maintain the No.1 position in the world any more, and China will step up.

 

Which could be China's plan all along

Edited by smidsy
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Ozepete

It was Brazil's finance minister who first officially declared that hostilities had begun. Guido Mantega confirmed on September 27 what other governments had been denying. The world, he said, was in a state of "currency war".

 

If so, Australia is one of the biggest losers. Countries everywhere are trying to cheapen their currencies to win a competitive edge over each other in world export markets. It's classic "beggar they neighbour" stuff.

 

By doing this, a country seeks advantage at the expense of others, trying to push its economic misery onto its competitors. When a number of big countries do this at once, you have a "competitive devaluation", a race to the bottom.

 

Just as Mantega said: "We're in the midst of an international currency war, a general weakening of currency. This threatens us because it takes away our competitiveness."

 

And just as this is happening, just as governments elsewhere pursue the lowest value they can for their currencies, Australia's dollar has achieved a record high. It's a perverse victory, an apparent win for national pride that qualifies us for economic punishment.

 

For the first time in history markets put virtually the same price on the Australian dollar and the US dollar last Friday at 11.17pm when one Aussie was traded, fleetingly, for $US1.0003.

 

The only other times the Australian dollar has been traded for as much as the greenback was when it was decided by government decree. The last time was 1982.

 

Since the Aussie was allowed to freely "float" at about US91

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smokey

well if the US stopped supplying military presence and aid , as well as grants , and gifts , as well as emergency aid to every country in the world they would not have to depress the dollar... I say for a strong dollar .... first remove all support and troops from ,,, Korea, japan, guam, middle east, Germany, etc etc savings billions upon billions... Stop supporting mexico drug war, india and africa and other countries fight against hunger, savings billions upon billions.. every time the weather kicks up each country runs to the US and the UN looking for aid stop that how many countries send help and aid during the Katrina crises??? savings billions upon billions with all this money saved every american can not only have lower taxes but free medical ,,,

 

 

Thats a little short sighted, as then the US will be giving up all its political influence, which the above effectivly buys. It money well spent when you consider the bigger picture.

 

They might have to do that someday, but that will be a last resort, accepting that they cannot maintain the No.1 position in the world any more, and China will step up.

 

Which could be China's plan all along

 

 

 

What political influence is that? Everyone wants help $$$$$$$$$$$ but no one wants to be told how to spend the help... Let china take over see how they enjoy having every problem be their problem... how much $$ do you think Japan saves , and Korea by having the US tend to their military needs what do you think japans budget is for military ... money they can spend on things for the people.. ,, the drug war in Mexico see anything positive there billions wasted buying weapons, SUVs, paying for vacations,, and after all these years has anything changed in Columbia or Mexico,so you think china wants to take over these small problems let them... the thousands of troops in the many countries can come back to the US and guard the borders and that will do more to stop the drugs then giving the money to Mexico..Africa for 50 years now they have been asking for help to feed the poor ...after billions of dollars all I see is the leaders in private jets ... even the middle east the different Muslim groups each hate each other so no matter who you let be in charge it will NEVER stop the fighting, let them settle their own problems among themselves..

Edited by robert51
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[edited just to save space]

 

What political influence is that? Everyone wants help $$$$$$$$$$$ but no .....

 

 

So you dont think America influences world affairs ???

Edited by smidsy
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thebob

 

why is usa not the best place to buy car..what car i buy from aus.? or bike for that matter?

 

Very few American cars are able to pass the safety and pollution requirements abroad, they often don't even bother to make RHD models for key markets like Japan and The UK. Ford is now importing technology from it's independent european arm, that has just about rescued the company.

 

Holden (GM) and Ford (Australia) conduct their R&D in Australia and export.

 

From Wikipedia

 

Holden

 

Exports

Holden began to export vehicles in 1954, sending the FJ to New Zealand.[139] Exports to New Zealand have continued ever since, but to broaden their export potential, Holden began to cater their Commodore, Monaro and Statesman models for both right- and left-hand drive markets. The Middle East is now Holden's largest export market, with the Commodore sold as the Chevrolet Lumina since 1998, and the Statesman since 1999 as the Chevrolet Caprice.[106] Commodores are also sold as the Chevrolet Lumina in Brunei, Fiji and South Africa, and to Brazil as the Chevrolet Omega.[133][140] Pontiac in North America also imported Commodore sedans from 2008 through to 2009 as the G8.[141] The G8's cessation was a consequence of GM's Chapter 11 bankruptcy resulting in the demise of the Pontiac brand.[142]

Sales of the Monaro began in 2003 to the Middle East as the Chevrolet Lumina Coupe. Later on in the year, a modified version of the Monaro began selling in North America as the Pontiac GTO, and under the Monaro name through Vauxhall dealerships in the United Kingdom. This arrangement continued through to 2005 when the car was discontinued.[143] The long-wheelbase Statesman sales in the Chinese market as the Buick Royaum began in 2005, before being replaced in 2007 by the Statesman-based Buick Park Avenue.[144] Statesman exports to South Korea also began in 2005. These Korean models were sold as the Daewoo Statesman, and later as the Daewoo Veritas from 2008.[145] Holden's move into international markets has been profitable; export revenue increased from AU$973 million in 1999 to just under $1.3 billion in 2006.

 

 

The only known US bike is the Harley, but they are only still going because Ronald Reagan put a 45% tax on large imported bikes to save the company. I won't buy or ride a socialist bike, not even a Meridian Triumph.

 

Harleys Tarnished Reputation

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Ozepete

 

i'm just a little frustrated that a country as large as the usa is fighting to survive,when it was us that lead the world for so many years

we are the country that supports most of the world

 

how is it that you caught up with us?

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