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The Ozzie dollar

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Old 04-12-2014, 08:09 PM   #1
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Aus The Ozzie dollar

“Australia is plagued by a currency that is so overvalued it makes oil-rich Norway’s currency looks cheap,” argues FT commentator Henny Sender.

“But the price of oil is high, while the prices of Australian commodities are under downward pressure, leading to deteriorating fundamentals.”

One reason the Ozdollar “continues to defy predictions,” says CLSA strategist Christopher Wood, is that interest rates in Australia remain relatively attractive, with the short-term rate still 2.5 per cent and the ten-year government bond yield at 4.2 per cent.

Australia continues to attract foreign capital, including investment by China’s property developers.
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