Businesses will continue to find global trading difficult
Leaders at the Commonwealth Bank of Australia (CBA) believe that the dollar will start to fall in value, but this will not be enough to please companies down under.
Many business banking customers have bemoaned the strength of the currency, as it has made it far more difficult to export goods overseas.
The dollar has been above the 91 US cents mark since 2010 and this has crippled a lot of Australian firms.
Currency strategist at the CBA Joseph Capurso believes companies need to restructure and significantly increase their productivity if they are to survive.
"The reality is that despite a predicted easing of the Aussie dollar, there will not be enough of a fall in the dollar for exporters to feel significant relief," he remarked.
There is evidence to suggest that enterprises are doing all they can to remain profitable, as 89 per cent of exporters said they are producing more goods to counterbalance the difficult global trading conditions.
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