An analysis of recent developments in the Australian dollar (AUD) foreign exchange market.
Written in 2006; 1,730 words; 11 sources; APA; $ 55.95
Paper Summary:
This paper examines how one of the most exciting stories recently in capital markets has been the sharp appreciation in the Australian dollar from historic lows in April 2001 to 7 year highs at the start of 2004. It looks at how this has had implications for financial instruments and markets both in Australia and abroad.
From the Paper:
"While the US dollar's long slump against major currencies has largely driven the ascent of the Australian dollar, the gains also result from Australia's strong economy, relatively high interest rates compared to other developed countrie and strong commodity prices. Part of the reason for the phenomenal swing from a record low of US47.75c on 3/4/2001 to US80.07c on 18/2/2004 is that in April 2001, investors were still pouring money into the US tech equities - however this began to change with the so called "tech wreck" which sent US markets into a decline and introduced a recession in the United States. The Australian dollar continues to thrive because investors are borrowing in places like Japan and Switzerland where interest rates are almost zero and are depositing in Australia and earning 5.25%. "
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