New U.S. dollar's weakness after yesterday's meeting of the Fed moved the Australian to a new two-year peak of 0.9583. As we recently noted, the fundamental and technical condition of the Australian was looked convincing against the dollar. Specifically, this month an Australian rose by 7.4% against the beleaguered dollar, and nearly 14% for the current quarter. It is not clear whether the stop rising trajectory in the near future, because the stability of the economy at the end of the world is in sharp contrast to the melancholic reconstruction in the U.S.. Australians missing only 2 cents to the highest rate achieved in mid-2008, even before the financial crisis really came on the world stage. Last night came the assumption that the Reserve Bank of Australia (RBA) drew attention to the maximum prices that temporarily have kept the market from new purchases. While it looks optimistic for the Australian, but those who have a long memory will know that the history of the currency is fairly complex: it is often climbed up the stairs, only to fall down elevator shaft.
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