- Dollar pushes above parity with US dollar
- Dollar hits 28-year high at 100.34 US cents
- High reached after US stimulus announced
- Full coverage: In-depth dollar news
THE Australian dollar has reached another post-float 28-year high against the US dollar.
The Aussie again pushed above parity with the US dollar after the US Federal Reserve decided to inject a $US601 billion in cash to stimulate the US economy.
At 7am (AEDT), the dollar was trading at 100.35 US cents, up more than half a US cent from yesterday's close of 99.68 US cents.
At midday (AEDT), it was slightly lower at US100.32c, due to weaker than expected retail sales figures.
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The dollar reached its record high of 100.57 US cents in early trade today, another post-float 28-year high.
Australia's push above parity with the US dollar will have a mixed impact on the economy, Prime Minister Julia Gillard said.
"This is a mixed thing. It's good for some industries and bad for others,'' Ms Gillard said on the Nine Network.
"If you rely on imported components to do what you do, then it makes a good difference. But if you're competing for things like tourism, international education, it makes it really tough."
The US dollar slid overnight, briefly touching a nine-month low against the euro, after the Federal Reserve said it would spend US$601 billion to buy US government bonds in an effort to boost the economy.
Investors had expected the Fed's action for months, since Ben Bernanke, the central bank's head, hinted at the move in a speech in late August.
Read more: http://www.news.com.au/business/australian-dollar/aussie-dollar-reaches-new-high-against-greenback/story-fn6t6wad-1225947574039#ixzz14HTNCWem
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