"One of the challenges that flows from the higher dollar and our domestic strength is the squeeze on profits for business across our economy caused by that higher dollar," he said.Despite commodity prices falling as Australia's mining boom cools, the Australian dollar remains high due to demand for government bonds which are viewed by investors as a safe haven and have higher returns compared with U.S. and Japanese government bonds.
Australia's Central Bank Cuts Rate To 2.75 Percent
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