Just because the Australian dollar has soared to eight-month highs this week doesn’t mean it’s about to make stab at parity against the greenback soon, some analysts say.
The currency has been on an upward trend since late January. It’s gained about 6.5 percent against the U.S. dollar so far this year, making it the best performing major currency after the New Zealand dollar.
Its strong performance, driven by a rise in risk appetite and firm demand for Australian bonds, has led some currency analysts to believe that parity with the U.S. dollar could be achieved by year-end.
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