AUSD 'performing well'

The Australian dollar is performing well in currency exchange markets, according to the Australian Associated Press (AAP).

Europe's poor economic performance played its part in offering good deals between the dollar and the euro and sterling.

However, Australia's positive economic and trade trade links with the growing Asian powers, may have played a more important role in boosting the currency's value.

British expats living in Australia may be able to benefit from the currency balance when purchasing products from the UK.

According to the press agency, the dollar is trading at around £0.60 this week, while euro exchange rates were also swung in favour of the Australian currency.

Greg Gibbs, a foreign exchange strategist from the Royal Bank of Scotland, told the AAP, that the AUSD strength was "likely to persist".

But the AAP recommended that people make any necessary currency exchanges soon, in order to take advantage of the low rates of exchange.

Posted by Chris Barber

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