DiscussWorldIssues - Socio-Economic Religion and Political Uncensored Debate - View Single Post - AUD reaching parity with USD soon? Again?

**yatrahnualenu** · 09-21-2010, 03:09 PM

Every couple of months seems to have story of AUD hitting parity with USD. Is this going to happen now? Or time to stock up on USD before it falls?

http://www.smh.com.au/business/dolla...ml?autostart=1

Dollar to hit parity 'shortly', Fortescue boss says
Clancy Yeates
September 21, 2010 - 4:27PM
Loading player

This video will automatically play after a 5 second delay.

Aussie dollar heading for parity?
Business Day writer Chris Zappone takes a look at what's fuelling the surging Australian dollar.
Video feedbackVideo settings
Mining magnate Andrew Forrest says the Australian dollar is likely to hit parity with the US dollar ‘‘shortly,’’ as benefits of the resources boom spill into the wider economy.

After the currency overnight struck a two-year high of 94.94 US cents, the Fortescue Metals chief said he thought it had further to rise thanks to the nation’s growth prospects.

While the resources boom had been the key attraction for investors so far, he said they would soon appreciate the broader growth story across various industries in Australia.

‘‘That’s a vote on how good Australia is,’’ he said of the dollar's recent ascent.

In a wide-ranging question and answer session, Mr Forrest also gave grudging support for a carbon tax, but said the government should look carefully at other options before introducing a price on polluting.

Amid a growing debate on climate policy among business leaders, Mr Forrest also backed further research on the coalition policy of carbon soil sequestration.

Mr Forrest likened a carbon tax to Winston Churchill’s view on democracy - that it was the worst option, except for all those others that have been tried.

'‘‘I would say before you bring in that worst system in the world make sure you’ve given your scientists, not politicians, every opportunities they need... to say what’s best for Australia,’’ Mr Forrest said in Sydney.

Mr Forrest’s commentary on federal politics extended to the $43 billion national broadband network, a key factor in determining the recent election.

He said people should be ‘‘scared’’ that the government had not conducted a cost-benefit analysis on the project, and questioned whether a wireless option could meet the nation's future communications needs.

He said wireless handheld devices such as the BlackBerry had changed communication between people and this technology needed to be formally weighed up against the proposal to roll out the NBN.

‘‘We are just getting to the outer edge of this technology and then we are putting in this old technology all around Australia,’’ he said. ‘‘To build it without a study ... as a mum or a dad we should be scared.’’

09-21-2010, 03:09 PM	#1
yatrahnualenu Join Date Oct 2005 Posts 477 Senior Member	AUD reaching parity with USD soon? Again? Every couple of months seems to have story of AUD hitting parity with USD. Is this going to happen now? Or time to stock up on USD before it falls? http://www.smh.com.au/business/dolla...ml?autostart=1 Dollar to hit parity 'shortly', Fortescue boss says Clancy Yeates September 21, 2010 - 4:27PM Loading player This video will automatically play after a 5 second delay. Aussie dollar heading for parity? Business Day writer Chris Zappone takes a look at what's fuelling the surging Australian dollar. Video feedbackVideo settings Mining magnate Andrew Forrest says the Australian dollar is likely to hit parity with the US dollar ‘‘shortly,’’ as benefits of the resources boom spill into the wider economy. After the currency overnight struck a two-year high of 94.94 US cents, the Fortescue Metals chief said he thought it had further to rise thanks to the nation’s growth prospects. While the resources boom had been the key attraction for investors so far, he said they would soon appreciate the broader growth story across various industries in Australia. ‘‘That’s a vote on how good Australia is,’’ he said of the dollar's recent ascent. In a wide-ranging question and answer session, Mr Forrest also gave grudging support for a carbon tax, but said the government should look carefully at other options before introducing a price on polluting. Amid a growing debate on climate policy among business leaders, Mr Forrest also backed further research on the coalition policy of carbon soil sequestration. Mr Forrest likened a carbon tax to Winston Churchill’s view on democracy - that it was the worst option, except for all those others that have been tried. '‘‘I would say before you bring in that worst system in the world make sure you’ve given your scientists, not politicians, every opportunities they need... to say what’s best for Australia,’’ Mr Forrest said in Sydney. Mr Forrest’s commentary on federal politics extended to the $43 billion national broadband network, a key factor in determining the recent election. He said people should be ‘‘scared’’ that the government had not conducted a cost-benefit analysis on the project, and questioned whether a wireless option could meet the nation's future communications needs. He said wireless handheld devices such as the BlackBerry had changed communication between people and this technology needed to be formally weighed up against the proposal to roll out the NBN. ‘‘We are just getting to the outer edge of this technology and then we are putting in this old technology all around Australia,’’ he said. ‘‘To build it without a study ... as a mum or a dad we should be scared.’’
	Quote