AAP General News (Australia)
01-14-2000
Fed: Industry booming but dollar, rates fears ahead
By Stephen Spencer, Economics Correspondent
CANBERRA, Jan 14 AAP - The Australian dollar is expected to reach a two-year high next
week, with US moves to raise interest rates likely to increase the pressure for an Australian
rate rise.
However Australia's peak manufacturing group today warned that further rate rises could
cost jobs and damage the economy, despite a survey showing industry finished 1999 with
booming sales and rising exports.
The dollar reached a six-month high of US66.80 cents in overnight trade before finishing
at …
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