AUD/USD Performance Chart as at 3:30 a.m. Singapore time, 03/05/11

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HISTORICAL DETAILS 

% Change

1 Wk 1.53%

1 Month 6.03%

3 Months 9.78%

6 Months 11.47%

1 Year 19.19%

 

52 WEEK

High 1.0947

Low 0.8067

 

BLOOMBERG MEDIAN FORECASTS

Q2 2011 1.02

Q3 2011 1.02

Q4 2011 1.01

Q1 2011 1.00

 

DAILY DETAIL

The Australian dollar hit a new post-float high this morning above $1.10 before easing down back to $1.0962 currently. The aussie’s continued rise has sparked warnings of currency-driven earnings downgrades in the coming weeks as Australian businesses count the cost of its surge. Analysts are split on whether the Reserve Bank of Australia will drop the official cash rate to stop currency speculators and help domestic businesses or increase the rate later in the year. As the aussie this morning hit a new post-float high of $1.1011, analysts and fund managers predicted downgrades from companies with high foreign earnings or trade-exposed businesses. [3] Last week's peaks capped a strong month for the aussie, which hit record after record. It gained almost six US cents through April, the most in a month since December, after Treasurer Wayne Swan said the Aussie's strength reflected an improving economy and higher commodity prices. Paolo Palazzi-Xirinachs, Chicago

 

Notes: Sources: [1] & [2] Reuters (02 May 2011), [3] Sydney Morning Herald (02 May 2011), [4] Wall Street Journal (02 May 2011). Chart data supplied by Bloomberg.