Australian dollar hits 23-year high against US

By Virginia Marsh in Sydney
Published: October 8 2007 19:14 Last updated: October 8 2007 19:14
The Australian dollar reached its strongest level against the US dollar in nearly a quarter of a century on Monday, some commentators predicting it could reach parity in the coming months.
The Aussie jumped by more than one US cent, passing through the 90 US cent barrier to reach $0.9033 in trading in Asia, before ending the session in Sydney at $0.9016, its highest level in 23 years.
Yesterday’s rise marks an extraordinary run for the Aussie, which dipped to $0.77 in August on subprime fears.

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