Aussie dollar surging towards US80c
The Australian dollar is surging when stacked up against other world currencies. The US, Hong Kong, Indonesia and Papua New Guinea are particularly good places to travel to and spend your money if you want to take advantage of the surge, with our exchange rates up around 10% from the start of the year.
THE Australian dollar has retraced its losses against its US counterpart following disappointing CPI figures, lifting to just shy of 80 US cents.
At 6.35am AEST, the Australian dollar was worth 79.95 US cents, up from 78.91 US cents on Wednesday.
Westpac’s Imre Speizer said the Australian dollar had hit a two-year high overnight while minor tweaks to the Federal Reserve’s position on inflation and tapering prompted a sharp fall in the US dollar.
“Broad-based US dollar weakness was the main story overnight, the DXY index down 0.7 per cent on the day in response to the FOMC (the Federal Reserve’s Federal Open Market Committee),” he said in a Thursday…