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Answer:
Yes, the AUD has been on an uptrend since March this year. In economic terms, the rise in gold prices together with some other factors can 'explain' why so. Remember that Australia escaped a technical recession during 1Q of 2009 by posting a growth of 0.4%. So between US and Australia, the latter appears to have a stronger economy. Also, like what my friend JasonRogers here said, Australia has one of the highest interest rates around. Recently, the RBA hike its rate to 3.50% from 3.25%. The US, on the other hand, only has a rate of 0.25%. This means that investments in Australia are more attractive than in the US. Of course, one need to have their money changed to AUD to be able to invest in Australia. Hence, the high demand for AUD.
