Monday, October 4, 2010

Aussie Dollar may reach Parity with USD Tomorrow

Tomorrow, the Reserve Bank will gather to decide and then announce whether the interest rates will go up another 25 basis points. More importantly, they will issue a statement which will be read very carefully by currency traders around the world. If the RBA indicates that the future looks good for Australia, the AUD may reach parity with the USD tomorrow. Of course, homeowners will not be looking forward to an increase in interest rates, making their mortgage repayments more expensive and more difficult for those looking for an affordable home. However, an interest rate rise may affect demand for real estate enough to bring down prices. Keep an eye out tomorrow for the RBA decision..

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