Commonwealth Bank of Australia conducted survey among Australia’s small and medium companies.

The nation’ exporters think that by September Aussie will reach maximum at $1.16. In their view, their position is very unfavorable as this level is situated 25% above the mark when they lost price competitiveness. The survey showed that 48% of Australian exporters are going to hedge their currency exposure over the next 3 months selling A$5 million ($5.3 million)-A$500 million a year. Australia’s importers believe the pair AUD/USD will peak at $1.14 by the end of 2011.

Analysts at Commonwealth Bank sum up noting that Australian enterprises expect the national currency to stay significantly above the parity this year and at the beginning of 2012 renewing its post-float record highs.

Australian dollar has added 31% against its US counterpart during the past year rising from $0.8072 on May 21, 2010 to $1.1012 on May 2, 2011.


Chart. Daily AUD/USD