AUSTRALIAN IMMIGRATION NEWS

Dollar eases pressure on Australian economy

Friday, 9 November 2007

The Australian dollar has slipped slightly from it's 23 year high to $0.927 USD. The slip eases pressure on the Australian economy ad inflation fears.

The record Australian dollar was a mixed blessing for the national economy. Those traveling abroad and businesses that rely on American imports saw massive increases in their spending power. However, export business or those who sell their goods in US dollars saw real cuts in their bottom line.

Now that the dollar has slipped slightly from it’s 93 cent US high, the economic pressure on Australian business has eased to some extent. Any sudden currency fluctuation can be damaging to the medium-term economic forecast, and a slight decline in the value of the Australian dollar could give business time to adapt to the longer-term upswing.