In recent weeks the Australian dollar has performed strongly against the greenback – breaking
records and making economists on both sides of the Atlantic dizzy with anticipation as they
speculate the impact of a strong Aussie dollar on the world economy.
The brush with parity is due to the combination of an Aussie dollar rising in anticipation of a
pending interest rate increase, and a greenback risking further devaluation as the Fed considers
monetary easing moves that will put more US dollars in circulation¹.
And while the US may be struggling, a strong Aussie dollar could be cause for celebration here at
home and financial expert Wilson Luna has some fantastic advice about how to benefit from a
poorly performing greenback.
‘The Aussie dollar hasn’t cleared 100 US cents since July 1982²,’ says Luna. ‘All indications
suggest it’s going to hover around the $1.00 mark for quite some time, and this translates into
some great savings for Aussie consumers.’
Luna says that there are three areas where families can cash in on the benefits the strong Aussie
dollar will bring:
1.
The world is your oyster: it’s not only holidays to America that will become cheaper. The
Aussie dollar is performing strongly against many of the world’s currencies – recently
yielding 0.704 Euros and 74.99 Yen³. That means our annual Christmas holidays just got
more economical, with the strong dollar opening up a whole world of opportunity for many
families. To get the greatest benefits, pay for as much as you can in local currency when
you get to your destination, rather than paying up-front at your travel agent.
2.
Shop till you drop: we’ve all been frustrated by conversion rates when shopping online,
and a strong Aussie dollar can equal big online savings. Just beware of additional costs,
such as postage and shipping.
3.
Made in the US: we can expect lower prices on products imported from the US, on
everything from cars and petrol to clothes, books, furniture and even electricals
4
.
‘While I wouldn’t encourage people to spend unnecessarily,’ says Luna, ‘If you’re in a position to
purchase, now is a great time to get a bargain.’
-- ENDS --
Wilson Luna is a financial expert, author and founder of Your Family Your Money, Australia’s
fastest growing money brand, with over 80,000 registered subscribers. Contact him directly for
interview or comment on 0425 311 444 or at interview@yourfamilyyourmoney.com.
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