again today with the strong advance in the AUD. Perhaps someone who is knowledgeable and who follows the currencies could offer their opinion on the future strength and target for the AUD vs the USD. It seems to me that FAX has a lot going in its favor now and for the next year or so. Thanks in advance to anyone willing to share their insights!
The Australian economy is based in large part on RESOURCES and frugal folks. Also, in my view the coming Olympics WILL bring the world's focus on a STELLAR ISLAND ECONOMY that WILL lead the pacific rim into the next millenium.
Seems to me that the attraction for tourists, economic opportunities of a WESTERN CULTURE SOCIETY in the EAST is VERY APPEALING now that Hong Kong is being swallowed by the Dragon as will Taiwan.
I have held an WILL HOLD FAX for pension and using DRIP to continue growth as I recommend to many friends and family memebers.
The "currency hedge" is PLUS BONUS I ENJOY.
Hell I remember when the Canadian DOlar was worth $ !.03 USA and the ENglish Pound was over $3.00 USA.
Only about a month ago I picked up a few hundred shares at 6.00 I just bought another 400 shares at 6 3/8. The Australian economy shows good steangth. As Asia rebounds the Aussie dollar will benefit as well. I expect the price to be at 7.00 by the end of spring, plus one also gets a monthly divident of 6 cent, almost 1 % a month ! Who could beat that ?
About 2 months ago a group of experts(?) discussed this subject in a magazine article. They suggested that the AUD should reach .72 within a year or 2, it is now .64 +, This would be another 12.5% increase which will help the stock! Bob Witt