Australians working online, let us rejoice, we’re all about to take a paycut

March 20, 2007 — 6 Comments

SMH: Aussie dollar hits 10-year high

How do I respond to this without droping the F word over and over and over again. Sure, it might make it cheaper to visit the US, but ALL of my income at the moment is in US Dollars. And lets talk rip offs, I ordered a couple of new boxes yesterday, Paypal converted at 77c and yet I read today the exchange rate is 80c and climbing. For everyone else: sure, imports become cheaper, but exports become less competitive, and did I mention interest rates? The AUD is up because the market is factoring in an interest rate rise in Australia in the very near future, every 0.25 basis points is roughly $45 AUD extra a month on my mortgage, so I lose twice over. GRRRRRR!