The Aussie $ has hit a 29 year high against the US $
The Aussie $ has hit a 29 year high against the US $, boosted by strong jobs data, soaring metal prices and the looming risk of a US government shutdown. The currency is trading above $1.05 against the US currency for the first time since it began floating freely in 1983.
It is not just off the strength of the AUS$ due to the commodity boom and strong internal economic numbers but also the current weakness of the US$ due to the budget issues in the US that could cause a total government shutdown in the coming week.
The Aussie has gained 7 % since March 18 and against the yen it is trading at 89.70, the highest level since September 2008.
