|Originally posted by Lilith |
Yeah, at this point all the financial institutions (and me!) are loading up on foreign currency with anything they can spare for when it inevitably drops down to where it usually is at around 13-16% less.
Problem with the dollar being high is that it affects trade to some extent that no one wants to buy our overpriced cars, come for holidays, get an education here, food exports and resents buying our dirt full of iron, aluminium and uranium.
So, it will drop down, I'm not quite sure how far it will drop but if past examples are anything to go by, it'll dip sharply after a small drop off and then begin to rapidly climb again. Quite volatile really.
isn't this why the AUD is the most bought & sold currency? always yoyoing