"AUD/USD will remain strong in the long-term"

[sarahfx]

Richard Grace, chief foreign exchange analyst of the Commonwealth Bank of Australia (CBA) said on Wednesday(March 23),"because the Australian Dollar and the U.S. Dollar are in the process of the structural change, AUD/USD is predicted to remain at a high level in the coming decades."
The Bank held that the debt-laden America was being haunted by such problems. Debt problems had threatened the long-term growth of American economy and posed a big pressure on the highest debt rating level of grade AAA.
Grace added that, "the strength of the American economy is not the key factor to ensure the rising commodity prices. But the commodity demands that are accumulated by U.S. economic recovery will support the Australian Dollar and will set a solid foundation for the strong Australian Dollar."
AUD/USD jumped above 1.0100 on Wednesday.