But with Europe suffering its own debt issues, and the Bank of Japan voicing concerns about its appreciating Yen, traders say our local currency looks like a credible option.
Meanwhile, in an address today, Reserve Bank Governor, Glenn Stevens noted consumer savings rates are high, and while confidence and spending are low, they will bounce back in time.
It comes ahead of tomorrow's all important read on inflation, which some say could be worse than expected, prompting further buying of the Australian dollar.
