Australian Dollar Hits Fresh Highs against Pound, Euro and US Dollar

> >On the Rise Again

April started really promising for Australians planning to travel overseas. Foreign currencies are cheaper, and if London is your destination this is the best time ever to go on a spending spree. The dollar is working really hard for you.

But if you want to transfer your money to Australia, it's better to ask for advice.

Want more information about a better time to transfer your money Down Under? Fill in the form below to ask your questions.

Peter Lavelle, 04.04.2013

Welcome to Pure FX's weekly update of the Australian dollar exchange rate.

This week:

  • The Aussie dollar hit its highest ever point against the British pound, at 0.6956
  • The Aussie climbed to its highest point against the US dollar since 5th February, at 1.0415.
  • The Emu reached its strongest against the US currency since the 24th of January, at 1.0497.

Hence, the Aussie dollar is very much on top!

Australian Dollar Looks Set to Continue Climbing

Furthermore, looking to April, the antipodean currency looks set to continue climbing across the board.

This is because:

  1. The Reserve Bank of Australia held interest rates at 3.0% in March.

    This makes the dollar more attractive.

  2. Australia's trade deficit fell to a 14-month low of -$178m in February.

    This bodes well for Australia's economic outlook, and its dollar.

  3. Julia Gillard wants to make the currency directly convertible with the Chinese yuan. 

      This will benefit Australian business, and the Aussie dollar.

 Given that, the Australian dollar could continue to rise this month!

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