Oi, Wannabe Travellers: The Aussie Dollar Has Surged Above 76 US Cents

Are you absolutely frothing for a Vegas trip? You still can’t afford it. But supposing you could, there’s some minor good news on the currency exchange front – the Australian dollar has surged above 75 US cents, it’s highest level since interest rate cuts in early May.

What’s the reason for this bump? Well, the markets are starting to become quite confident that the result of the UK’s Brexit vote will be Remain – meaning that the UK will stay in the European Union and there’ll be substantially less market chaos to deal with.
The Aussie dollar hasn’t been at parity with the US dollar since 2013, when interest rates in the United States were low and high in Australia. That is no longer the case, and it’s unlikely we’ll see a parity situation anytime soon. 
But for prospective travellers, this is nice. It’ll be interesting to see if a) the markets are right on Brexit, and b) just how strongly the Aussie dollar can hold.
Source: Business Insider.
Photo: Getty Images.