DEVELOPMENTS in the Chinese
property market will play a key
role in determining if the Aussie
dollar can retain its value, with a
predicted slowdown in Chinese
construction likely to put a strain
on the local currency if it comes
Bouncing between 75 and 80
US cents, the AUD is forecast
by analysts to fall steadily over
the next week, with that dip
potentially sharper if Chinese
demand for iron ore shipments
continues to fall.
The outlook for the AUD versus
the British pound also looks
bleak, with predictions it will slip
by 6% by the year’s completion.
Wholesale rates this morning.
$1AUD = US0.775
South Africa R9.027
Crude oil US$65.55