Analysts at BNP Paribas expect Australian dollar to climb versus the greenback to the maximum since 1983 helped by the growth of the commodity prices.

Benchmark European coal derivatives for next-year delivery gained 8.6% since the beginning of the year to $134.40 a ton on March 16.

The specialists remind that Australia is the world’s biggest coal producer and rising coal prices will increase the country’s income and asset prices.

According to the bank, Aussie may strengthen to $1.04. So far the highest level of the pair AUD/USD was reached on December 31 when it rose to $1.0256.