Australian Dollar Outlook
The Australian Dollar is a currency that I really should have mentioned in my “energy rich currencies” post.
Australia is one of the major world producers of Uranium. On the back of concerns about peak oil and the increasing energy needs of a growing world economy nuclear power is making a comeback in a major way.
Australia and the Australian Dollar will benefit from the long term growth trend of the nuclear power industry. Of course, the more nuclear power reactors in use around the world the greater the need for Uranium.
Australian will also benefit as a supplier of metals and agricultural products to a world hungry for commodity resources.
The Australian Dollar is certainly in the fortunate position of being an energy rich currency.
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