After a long and painful period of watching the Australian dollar plummet lower and lower, ruining travel plans and decimating the lofty dreams of online shoppers, we’ve found a tiny crack of light in the darkness: the Aussie dollar has gone above 75 U.S. cents, and is holding there.
Sky News reports that the increase in the dollar’s value is because of stronger commodity prices and the announcement by the European Central Bank of stimulus measures.
Before you launch yourself bodily at your laptop and book flights to Los Angeles, this is still not that great. Some will remember the glory days of 2010, when the Aussie dollar rose above the US dollar for the first time since it became a freely traded currency.
Oh how we laughed.
But falling commodity prices and the end of the global financial crisis brought the Aussie dollar crashing down. We’ll see how far this rise holds.
Source: Sky News
Image: Getty Images / Dominic Lorrimer