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I saw on the news this morning that the Australian dollar = 98.17 American. Can you believe that?!! A record high. Who knows but we might just see parity soon?! Wow. Incredible. So I went to 'Market Watch' and found this article explaining the whys and wherefores, and thought you all might like a read too. It's courtesy Sarah Turner at http://www.marketwatch.com/story/australian-jobs-data-boost-dollar-stocks-2010-10-06
SYDNEY (MarketWatch) — An unchanged monthly reading of Australia’s unemployment rate sent the Australian dollar surging to its highest level in over two decades and also helped lift stocks into positive territory on Thursday.
The Australian Bureau of Statistics reported Thursday a 49,500 rise in the number of employed to 11.3 million, which took the market by surprise.
Economists had been expecting a rise of 20,000 in the number of employed, according to the Dow Jones survey.
The Australian dollar jumped after the data, climbing throughout the day to break its post-float high of 98.50, hit in 2008. By late Thursday in Sydney, it was trading at 98.80 cents — its peak since the currency was floated in 1983 — setting it up for a possible push to parity with the U.S. dollar.