Three dollars, one value

The US dollar, the Canadian dollar, and the Australian dollar are all within a penny of the same value.

|
Photo illustration / Jason Reed / Reuters
A U.S. dollar note (bottom) is pictured alongside an Australian 10 dollar (L) and 20 dollar bill in this photo taken Oct. 14, in Washington. The U.S. dollar index hit the year's low on Thursday as most major currencies gained against the struggling greenback. The Australian dollar, which boasts the highest yield among major currencies, soared to a 28-year high at $0.9994, and poised to near parity.

Right now we have the interesting situation that the three biggest dollars in the world-the U.S., the Canadian and the Australian, have almost exactly the same value. As of this writing, the U.S. dollar was valued only 0.06% higher than the Canadian dollar, and only 0.42% higher than the Canadian dollar.
Right now, there are only three major currencies with a higher value than the U.S. dollar: the British pound, the euro and the Swiss franc. With the Fed pushing ahead with "quantitative easing 2" while the Bank of Canada and even more so the Reserve Bank of Australia are tightening monetary policy, it seems likely that the pound, the euro and the franc will soon be joined by the dollars of Canada and Australia.

------------------------------

The Christian Science Monitor has assembled a diverse group of the best economy-related bloggers out there. Our guest bloggers are not employed or directed by the Monitor and the views expressed are the bloggers' own, as is responsibility for the content of their blogs. To contact us about a blogger, click here. To add or view a comment on a guest blog, please go to the blogger's own site by clicking on the link above.

You've read  of  free articles. Subscribe to continue.
QR Code to Three dollars, one value
Read this article in
https://www.csmonitor.com/Business/Stefan-Karlsson/2010/1014/Three-dollars-one-value
QR Code to Subscription page
Start your subscription today
https://www.csmonitor.com/subscribe