AUD

Hi, hmm just wanna get some reviews on the Australian Currency. It been going uphill and staying on top the last 2 days, just wanna see whats your take on it, would it last or fall back by this week?

Wish to know more about what is driving the currency up at such incredible growth rate, but i can find very little information from the web.

I'm far from an expert, but my take on it is that it's because they are one of the few countries to avoid going into recession, mainly due to the demand from China for the Aussie resource commodities.

Don't know how accurate this is but i vaguely remember someone telling me China's industrial growth and demand is so large that they have already bought some of our metal commodities for the next 15 years or some rediculous number of years anyway.

Long live China.

(article i found from the 14/08/09) google is your friend

http://www.thebull.com.au/articles_detail.php?id=5355

"Chinese demand for Australia's resource commodities has been supporting the nation's exports and economy, Reserve Bank of Australia (RBA) governor Glenn Stevens says.
Mr Stevens said an emerging China had helped cushion the nation from the global economic downturn and while its growth had slowed during the crisis, it was recovering strongly."

Thank you, any input of any sort is much apperciated