Australian dollar rose to a record 95.7 US cents.

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Uploaded by on May 19, 2008

Housing market confidence has collapsed in the last 3 months
ASB survey shows 35% believe now is a bad time to buy
50% surveyed expect lower house prices. That's almost double the end of 2007
Australian dollar rose to a record 95.7 US cents. That's dragged up the Kiwi to 77.7
Australian inflation and interest rates are still high and less chance of a rate cut there soon/ Rate cut seen sooner in NZ
That's why NZ$ dropped from 88 Aussie to 81 Aussie in the last 2 months
Oil price hit new record, market ignored Saudi production hike, US reserve move

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