'Not the right time' for increasing Aussie Dollar
It’s probably not the right time for an appreciating Australian Dollar as it lessens our export gains, according to InvestSMART’s Evan Lucas. “At the moment exports for us have been incredibly strong and possibly giving us a little buffer to the overall headache that is COVID-19,” Mr Lucas told Sky News. “The reason it’s a negative is the more and more the dollar goes up the less we recoup from our exports, particularly things that are denoted in US dollars which is most of our exports. “The Aussie dollar is going higher is because the Reserve Bank basically has no more room to move in terms of what it has done. “Overall, even with what’s going on in Victoria, we’re doing economically not too badly. “All that’s actually a positive for the Aussie, and it’s probably not the right time for us to see an appreciating dollar.”
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It’s probably not the right time for an appreciating Australian Dollar as it lessens our export gains, according to InvestSMART’s Evan Lucas. “At the moment exports for us have been incredibly strong and possibly giving us a little buffer to the overall headache that is COVID-19,” Mr Lucas told Sky News. “The reason it’s a negative is the more and more the dollar goes up the less we recoup from our exports, particularly things that are denoted in US dollars which is most of our exports. “The Aussie dollar is going higher is because the Reserve Bank basically has no more room to move in terms of what it has done. “Overall, even with what’s going on in Victoria, we’re doing economically not too badly. “All that’s actually a positive for the Aussie, and it’s probably not the right time for us to see an appreciating dollar.”
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