Australian dollar continues to set records-spun1

Australian dollar is constantly on the set records,[link widoczny dla zalogowanych]
The turbo-charged Australian dollar broke through the 109 US cent-mark today, trading at more than 109 US cents. It is the latest in a number of record highs against the greenback.
But what impact does it have on day-to-day consumer prices or household budgets?
AMP chief economist Shane Oliver says the dollar's recent fortune is due to three key factors: a weaker US dollar, high costs for commodities such as iron and nickel, and Australia's high rates of interest.
As the continuous rise will make shopping,[link widoczny dla zalogowanych], both locally and overseas cheaper, Mr Oliver says it is a mixed bag for consumers.
This is a quick help guide to how the booming Aussie dollar will affect you:
Shopping: cheaper imported goods
A far more valuable dollar is making it cheaper for retailers to import things from overseas. They are able to pass on these savings to shoppers,[link widoczny dla zalogowanych].
"The biggest winners [from the strong dollar] are Australian consumers and households more generally,[link widoczny dla zalogowanych], with cheaper food,[link widoczny dla zalogowanych], clothes,[link widoczny dla zalogowanych], electronic goods,[link widoczny dla zalogowanych], household appliances and overseas travel and so on.
"[The rise] basically comes down to a rise in living standards as money in Australia will buy more internationally," he explained.
Rates of interest: prone to ease pressure
Our prime dollar is likely to restrict the Reserve Bank (RBA) to only one rate of interest rise this year, Mr Oliver said. This means less pressure on the household budgets because it will minimise increases in mortgage repayments.
"To the extent the high dollar has already been constraining growth, there is less of a demand for RBA to raise interest rates."
"I expect they stay on hold for another few months using the next rise in August,[link widoczny dla zalogowanych], thought there a high probability there'll only be one this year."
Travel: cheaper airfares, more spending power
As Aussies can now buy more with their money overseas, they're also likely to be likely to travel abroad to do so.
And because the demand for flights rises, airfares will also become cheaper, said Mr Oliver.
"Airlines often take advantage of a powerful local currency because it means there will be more travellers on international flights and that has a tendency to reduce jet fuel costs because fuel is priced in US dollars," he said.
Petrol prices: a buffer against oil prices
Petrol prices happen to be rising Up almost 9 percent in the latest inflation figures - but the dazzling Australian dollar is acting as a buffer,[link widoczny dla zalogowanych], shielding motorists from even higher fuel costs.
Fueltrac general manager Geoff Trotter says petrol prices could be as much as 15 cents higher when the dollar had not gone on a record-breaking post-float go beyond yesteryear 12 months.
"The strong dollar has been a saviour for that motorist," Mr Trotter said.
"The price motorists pay for petrol is based on the wholesale petrol prices in Singapore and they are quoted in US dollars so any rise in our dollar is potentially great news in the petrol pump,[link widoczny dla zalogowanych]."
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