Analyst Predicts AU Dollar Will Stay High
July 20, 2012
A bank analyst predicts the Australian dollar will stay above parity for the rest of the year.
Bruce King, from Rabobank, is forecasting the currency will hit $1.05 against the U.S. dollar in the next year. The Australian dollar is today trading at about US$1.03.
King says it is because of improvements in the United States and the European Union (EU) market sentiment.
Reprinted in part from ABC Rural, AU