The Pacific Peso (revisited)

Like a souffle, the OZ dollar keeps on going up, up and away. Pity it isn't as a result of our economic solidity. As far as I know, it's more as a result of flakey international 'forex' punters looking for an exotic alternative to the normal havens (ie US$, euro and/or sterling) which are currently in a pretty moth-eaten state and facing uncertain futures. The down-side, as has been evident lately, is that the slightest glimmer of hope for the traditional 'bankable' currencies sends the punters into a frenzy of dumping the OZ big-time, producing slides of up to 10 cents US value almost overnight. Whilst that might be encouraging to local exporters (who are being stripped naked by the atmospheric AU$ rises) ... it never seems to last long enough to enable substantial market relief for anyone.

Budgeting in this extreme 'yo-yo' forex 'market' must be a nightmare for our manufacturers and food-stuff exporters.

Worse yet, I've moved-on from any strong desires to travel overseas anymore. Too old and tired to be bothered. With the OZ unit at around US$1.06 as I write and everything at bargain basement prices in the states ... boy, what a great time could be had being a tourist over there?!