The Sydney Morning Herald --- Page: online : 17 July 2007 Original article by David McIntyre
ABIX Summary
The Australian dollar is trading at high levels in mid-July 2007. On 16 July, it closed at $US0.8726, up from $US0.8674. This is close to an 18-year high against the US dollar, as well as the highest in 16 years against the Japanese yen. Over the last year, it is the third-best performer of the 16 most-traded currencies. Richard Grace, of Commonwealth Bank of Australia, said that the dollar's strength reflects the positive outlook for economic growth. He said that it may rise to $US0.875 in the next week.
