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Aussie dollar soars to fresh record


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After punching through the $US1.06 mark yesterday the Australian dollar barely stopped for breath on its way to another record early today when it climbed past $US1.07 - and kept going.


At 6am, the Aussie was still hovering around the $1.0690 after hitting $US1.0694 against its US counterpart as stocks and commodities both rallied on demand for assets linked to growth.


But shortly after 7am, the dollar had reached $1.0717 before settling back to $1.701.

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The new high continues a record-breaking run for the unit, and the second consecutive day in which it rose against against the greenback after a government report showed prices increased for Australia's exports, which gave the Reserve Bank of Australia a reason to consider raising interest rates.


The Aussie was also stronger against the Yen, up about 1.2 per cent to 88.060, and was up almost one per cent per cent against the British pound, buying 0.6516 pence.


The Australian dollars was stronger versus the Yen amid gains in raw materials, which account for more than half of the nations' exports.


“Economies globally seem to be recovering in a sustainable way,†said Marito Ueda, senior managing director in Tokyo at FX Prime, a foreign-exchange margin company.


“Sentiment may be risk on, so high-yielding currencies could be bought.â€


Australia's export price index climbed 5.2 per cent in the three months through March, the Bureau of Statistics said in Sydney. Economists surveyed by Bloomberg estimated a five per cent increase. Import prices rose 1.4 per cent.


The MSCI World Index of stocks climbed 1.9 per cent and the Thomson Reuters/Jefferies CRB Index of raw materials increased 1.3 per cent.




I note the US has slid under 30 baht and shall soon loose its Triple A status, not good for our Pacific brothers in arms :surprised:

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Glad I got out of the exporting game when I did....


AND (for the first time ever) it cost me over $100 to fill up the ute! Granted, the tank was near empty but fark.... remember the days $5 would get you out of strife...


Looking good for future trips... last I saw THB was about 30-31:1AUD

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Not a surprise.

The US Dollar was downgraded due to the large debt load that the US gov now has.


Hello....you can not print trillions of dollars out of thin air and not have negative results!


Expect the US dollar to really go down in June when the QE2 ends, unless they start up the presses and print more $$$ out of air and also raise interest rates.

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So how many baht will that buy me next month assuming it stays around the $1.06/7?

32 baht at Vasu travel (Soi 7/1 Sukhumvit) :beer:

That the one on the corner opposite subway?

Sure is, I remember that one poster on here did comment that it now has on it a sign that reads "Vasu Money Exchange", but I still refer to it as its original name :beer:

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