Flight Centre Limited (FLT) - Falling Dollar Causes Slide
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Uploaded by asxguru on Oct 3, 2011
Over the past year or so Flight Centre Limited (FLT) has been a stand out performing stock. One of the main reasons for the strong performance has been the strong Australian dollar. With the local currency at record highs overseas travel has never been cheaper and this has spurred Flight Centre onto reporting record results for the 2011 financial year.
Over the past few months, however, we have seen the local currency take a sudden dive. In particular, the past few weeks has seen a savage collapse in the Australian dollar. Today, the Australian dollar has continued to slide and at the time of writing was trading below 95c. Flight Centre's share price has suffered as a result of this and the above chart now shows a strong downward trend beginning to form.
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