Business Services Industry
Hot dollar cuts both ways.
Australasian Business Intelligence, May, 2002
May 24, 2002 (The West Australian
ABIX via COMTEX) -- Since October 2001, the Australian dollar has risen 15 against the US currency. Dun & Bradstreet CEO, Christine Christian, says exporters who only profit when the dollar is low will suffer. According to estimates from the Australian Bureau of Agricultural & Resource Economics, exporters who have not hedged against the dollar's rise will also be affected. National Australia Bank market strategist, Greg McKenna, says the dollar will reach $A0.60. UBS Warburg chief equity strategist, Sakthi Siva, says this will hurt CSL, QBE Insurance, Westfield Holdings and Lend Lease and maybe News Corporation, CSR and Brambles. JBWere chief equity strategist, Mike Hawkins, says BHP Billiton, Rio Tinto and News Corporation...
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