Friday, July 20, 2012

Dollar and the Euro

The Australian dollar has hit a new high against the euro as the local currency becomes increasingly popular as investors chase high-yield assets. The dollar was buying a record 85.17 euro cents overnight and also reached 104.46 US cents against the greenback - its highest level since the end of April.

PHOTO: The Australian dollar hit a high of 85.17 euro cents overnight. 

High interest rates compared to those in Europe, the US and Japan, as well as Australia's triple-A credit rating have encouraged investors looking for higher returns.

(Really just wanted to get off that '666' post number lol!)


AstridsSoapbox said...

I was so ticked to see the euro gaining strength against the US $. When I was in Paris last year with my granddaughter I think I was nearly giddy with excitement on the rare days the euro hit 70 against the $. Now is the time to visit France kiddies!

North of Wiarton & South of the Checkerboard said...

Ha, on the 666 post, YOU !

Maria said...

This is disturbing, but not really a surprise, yes?

Shammickite said...

So should I invest in some Aussie dollars?
BTW, thank you for your information about the origin of dragoons... I've added a bit more information in my comments section.

Gill - That British Woman said...

luckily I have no interest with Euros, as Britain still has the good old pounds and pence.

Gill in Canada

JohnD said...

strid - anytime is a good time to visit France, especially Paris and the South of France. lol!

Maria, no surprise. The Aussie$ has been higher than the US$ for quite a while - good for the US if it attracts 'cashed up' US tourists, especially on their way to or from the London Olympics.

Sham, investing, especially in currency, has long been a good 'game' - I know English migrants living in Australia who earn their periodical airfares home from trading their 'sly kick' fund on the money market.

Gill, you can still make a few pence trading your Canadian $'s against the Yankee$ - you are well placed to do so.

Cindy, 666 no more, no more LOL!