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Daily Discussion Thread: Sun 24 Sep 2023
(aussie.zone)
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this post was submitted on 23 Sep 2023
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What has to happen for the US dollar to go back to that amazing 1:1 we had like 15 years ago. They were good times.
No idea but those were the days where importing stuff was sooo much cheaper than buying locally even with shipping included.
What do you mean to go back? Current rates are still shit. Current visa exchange rates are 1.00 USD to 1.56 AUD.
But to answer your question, it is in part because the interest rates in the U.S. are higher. This makes their bonds more attractive and therefore strengthens their currency.
This is in part is one of the reasons reserve bank has to keep putting up our interest rates so our currency doesn't get completely raped.