THE Australian dollar could reach parity against the US dollar and is expected to strike US90 cents in the short term, which could stop the central bank from raising interest rates. Craig James, chief economist with CommSec, said today the dollar was expected to reach US90 cents in the near term. After that, the currency could hit $US1, giving Australians who are travelling abroad a big financial boost. With a strong economy and rising commodity prices and the risk that interest rates could keep rising locally, “we expect to see the Australian dollar will reach US90 cents and after that, we will have to see,” he told ABC Radio.
