Dollar To Break $US1 Mark
May 12th, 2008 | by winsonlee |
According to Bill Evans, Westpac’s global head of economist, Australian dollar will peak against the US dollar at $US1.01 by March 2009. Australian currency surged to a high of US95.07 due to commodity price rose and crude oil jumped. The weakening of the US economy will send the Aussie higher over coming months. Mr Evans forecasts the Aussie will reach US99 by late this year before breaking the $US1 mark in early 2009.
This means that it will be cheaper for those who earns Aussie dollar to spend their holiday in the State and at the same time they are able to shop for branded goods like Louis Vuitton, Coach, Gucci and Chanel at a cheaper rate.
Source : http://www.news.com.au/business/story/0,23636,23663914-462,00.html
