Skip to content

Aussie Dollar Breaking 1983 Highs

On December 9, 1983 Prime Minister Bob Hawke and the Labor party floated their currency in a reflection of the balance of payments.  Commodities make up a large portion of exports so a rally in commodity prices generally coincides with a rally in in the Australian dollar.

Maybe AUD is a great way to protect wealth in real terms.

Back on June 8th I said that the flight to quality had hit the AUD quite hard and that it was time to diversify into these currencies with stronger balance sheets.  Since that time the AUD has risen about 19%.

Posted in Economics, Markets, Trading Ideas.

Tagged with , , , , , .

Copyright © 2009-2013 SurlyTrader DISCLAIMER The commentary on this blog is not meant to be taken as an investment advice. The author is not a registered investment adviser. There is no substitute for your own due diligence. Please be aware that investing is inherently a risky business and if you chose to follow any of the advice on this site, then you are accepting the risks associated with that investment. The Author may have also taken positions in the stocks or investments that are being discussed and the author may change his position at any time without warning.

Yellow Pages for USA and Canada SurlyTrader - Blogged