Dollar dooms Olympic athletes: ANZ

By |

ANZ has come out with a financial theory to explain Australia’s slow Olympic start, reflecting on the fact that the Australian dollar is trading at its highest levels during an Olympic year.

Tongue firmly in cheek, the bank is blaming the strength of the Australian dollar for a poor performance so far. The bank’s chief economist Warren Hogan says Aussie athletes may be more tempted to skip training and enjoy the benefits of having plenty of spending money.

He told The Courier Mail his team found Olympic performance was at its best when the dollar was weak.

 More seriously, a higher-value dollar meant federal budget restraints, which could impact on the number of Olympic support staff, he said.

 Australia has achieved just one of the 302 gold medals awarded at the games.

 "All the while the currency is trading around levels that in real terms are the highest ever during an Olympic year," Hogan said.

Do you have more than $200k in your super fund? You could use your super to buy property - Find out how

Top Suburbs : whyalla , torrensville , flemington , scarborough , stafford hts

go back

Get help financing your investment

Do you need help finding the right loan for your investment?

When investing in property, it is important to make sure that you not only have the lowest available rate that you can get, but also have the correct loan features for your needs.

Just fill in a few details below and we'll then arrange for a local expert Aussie Mortgage Broker to contact you and work out what features or types of loans are right for your needs. We'll even help with the paperwork. Plus, our mortgage broking service is at no cost to you.

How soon would you like a mortgage?
What is your Annual Household Income i $
Do you currently own any Investment Properties?
Do you own your own residence?
How much equity do you have in all your current properties?
First Name
Last Name
Where do you live?
What number can we reach you on?
E-mail address
We value your privacy and treat all your information seriously - you can check out our privacy policy here