Ovetii report Australian Dollar Rises to its Highest against the US dollar Since 1984

FOR IMMEDIATE RELEASE
(Free-Press-Release.com) December 19, 2007 -- According to rumoured speculation on the part of Ovetii, the Australian currency could well be poised for its biggest advance in months after an inflation report led traders to increase bets the Reserve Bank of Australia will raise its 6.5 percent key rate on Nov. 7. Futures contracts have shown that the Federal Reserve is likely to cut its 4.75 percent rate.
Ovetii senior analyst reportedly stated that with the assistance of contrasting interest-rate paths, it was onwards and upwards for the Australian dollar.

The currency climbed for a fourth day recently to its highest against the US dollar since May 1984.

Sources claim Ovetii currency analysts have predicted that the Australian dollar will appreciate to approximately 95 cents in the first quarter of next year. The median estimate of 41 strategists surveyed by Bloomberg is for the currency to trade at 87 cents by the end of the first quarter.

Sources have also reported that Ovetii currency analysts are of the opinion that investors seeking the higher yields available on the nation's bonds have driven the local dollar higher against 15 of the 16 most-actively traded currencies in recent weeks.

Ovetii