Weakness of Aussie Does Not Reflect Economy's Strength

CURRENCY BRIEFS

CANBERRA--Australian treasurer Peter Costello said last Tuesday (November 14) that the weakness of the Australian dollar does not reflect the health of the Australian economy.

"What's going on at the moment has a lot more to do with what is happening in the United States than what is happening in Australia," he said in a radio interview.

Analysts agree the value of the A$ is affected by the strength of the US$, which is currently benefiting from an influx of capital investment in North America