The dollar bounded up to a three-year high against a basket of major currencies in Asia, squeezed higher after Treasury yields jumped after the Federal Reserve's comments.
Richard Perry, chief market strategist at Central Markets, joined CNBC on Wednesday to discuss market moves in the Australian dollar, the FTSE 100 and gold.
Adrian Foster, FX Strategist, Head of Financial Markets Research, Asia Pacific at Rabobank, advises investors to sell the greenback and buy the Aussie at 1.01.
Paul Dowling, Principal Analyst at East and Partners says Australia banks are experiencing low growth domestically, hence, they have started looking elsewhere for opportunities.
Mansoor Mohi-uddin, Chief Currency Strategist at UBS Investment Bank warns that commodity currencies are set to suffer on further investor risk aversion.
Ben Clark, Portfolio Manager at TMS Capital believes that Australian markets will not go any lower and is currently overweight on Newcrest, Wesfarmers and Origin Energy .
The sovereign debt crises on both sides of the Atlantic has created what some analysts are calling an "ugliness contest" between the U.S. dollar and the euro, and experts remain split on which of the two currencies are a safer bet.
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