The American Empire in a Changing World


Tuesday, November 27, 2012

''The Australian Dollar: A Global Currency?''

From The Diplomat
By Anthony Fensom

''Australia has long prided itself on “punching above its weight” in global sporting contests such as the Olympics. Now, the resource-rich nation of 22.6 million people and the world’s 12th biggest economy may see its currency do the same, with the Australian dollar forecast to join the world’s elite.

Once derided as the “Pacific peso,” the Australian dollar may by 2015 become an official global reserve currency, adding to underlying demand for a currency already considered overvalued by the nation’s exporters.''

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