So is the Australian dollar's march through 80 US cents a cause for celebration about our economic might or time to bring out the worry beads for a fragile economy about to buffeted by another headwind?
The Australian dollar joined the euro on Thursday at a more than two-plus year high against the US dollar after the Federal Reserve signalled it was ready to start reducing its balance sheet “relatively soon”, but also failed to deliver a strong note ...
Also helping underpin demand for the Australian dollar has been a solid performance in commodities. Oil is trading near eight-week highs, with brent, the global benchmark, topping $US50 a barrel overnight.
Over in Australia, the recent Australian dollar appreciation has been triggered by a defence of the Australian economy. Responding to comments by opposition leader Bill Shorten, AU Treasurer Scott Morrison defended his government's record.
And with regards to the apparently-expensive Australian Dollar, “that said, a 6% overvaluation does not represent an upper extreme - there have been several historical episodes where AUD overvaluation peaked in the 8-10% range.