Overnight, the Australian Dollar (AUDUSD) slumped to just US 76.14 cents.
However, despite already falling a whopping 17.2% in the past year, there could be more pain in store for outbound travellers via the AUD's fall.
Indeed with the U.S. economy 'firing on all cylinders', and the Australian economy being tested by the end of the mining boom, an even lower Australian dollar seems likely.
But it doesn't have to be all bad news. Savvy investors can take advantage of the falling currency through the purchase of shares in strong Australian companies which derive a significant amount of their sales overseas.
If you think the Aussie dollar has further to fall, the following four stocks deserve a spot on your watchlist.
- Computershare Limited (ASX: CPU) is a global share registry services company. Computershare is a direct beneficiary of a lower Australian dollar, with operations in 20 countries, and it has leveraged exposure to rising U.S. interest rates.
- Amcor Limited (ASX: AMC) also derives a significant proportion of its revenues offshore, with 29% of sales from North America alone. In addition to the currency tailwind, the global packaging company will also benefit from an improved operating environment in the world's largest consumer market.
- Sirtex Medical Limited (ASX: SRX) recently suffered a huge share price drop in the wake of an unfavourable clinical trial result for its SIRFLOX liver cancer treatment. However Sirtex continues to present as a promising investment moving forward, with analysts continuing to forecast strong growth into the future.
- Westfield Corp Ltd (ASX: WFD) is the global arm of shopping centre giant, Westfield. Despite only recently being formed from the split of Westfield Retail Trust and Westfield Group, shares of the new entity have risen 34% in a little over six months.
Should you buy these shares now?
If you think the Australian dollar will head lower over coming years, each of these blue chip stocks should be on your watchlist. However, at today's prices, I'd buy Computershare first. It has a strong competitive advantage and will benefit from the eventual rise of U.S. interest rates and a lower dollar.
