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To: John Pitera who wrote (40305)	5/12/1999 5:35:00 AM
From: Moominoid	Read Replies (1) \| Respond to of 86076

what are the reported reasons you are hearing In OZ for the resiliant performance of the AUD lately. AUD was severely oversold in the middle of last year. People are realizing that resources are a smaller part of the stock market and so buying AUD to invest in aussie stocks, commodity prices are now rising, the Australian economy is the fastest growing in developed world after Ireland - it didn't tank with Asia. Resources are a smaller % of exports toonowadays etc. Basically the foreigners didn't really know what the Aussie economy is like now and the Aussies too underestimated the resilience of the economy to the Asia crisis. David