Dollar up from seven-week low
The Australian dollar dropped to a seven-week low on Thursday last week, but has since gained more than half a cent, thanks to increases in US equities late last week.
At 10am AEST this morning, the dollar was trading at 106.04 US cents. However, it is expected to fall following the release of Chinese housing data over the weekend.
Published on: Monday, March 19, 2012blog comments powered by Disqus
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The baton continues to be passed from mining to other parts of the economy.
I would bet my haggis on the fact that a supposedly fiscally prudent people do not voluntarily commit the greatest act of economic suicide ever seen in the western world.
Now you know I don't hold with the "pick a super power" and "China taking over from the United States" type silliness. Whenever things go wrong, who you gonna call?
Well, the most powerful woman in the world chickened out. But that said, Janet Yellen has done everyone with a mortgage a big favour! God bless America!