Posted: 9 November, 2016
The Australian Dollar Just Jumped To Six Month Highs
Good news for online shoppers!
The US election has already had a positive impact for Australian online shoppers, with the AU dollar surging to a six month high against the US dollar today.
The Australian dollar peaked at US77.78 cents just before 8.30am AEDT, but has since dropped back slightly.
This could be good news for anyone wishing to engage in a spot of online shopping, or anyone planning an American holiday.
Financial experts had previously predicted that the dollar could increase to over 90 cents against the US dollar if Trump won the election.
“You only have to look at Brexit to see what an unexpected result can do to the national currency,” Joy Seng from the Currency Shop told News Corp.
“In that case, the British Pound immediately slumped and is now trading at its lowest level in 168-years.”
“If by any chance Donald Trump wins the election, the same thing could happen in the US,” Ms Seng said.
“The US dollar will weaken and the exchange rate with the Australian dollar will rise higher, meaning travellers would receive more US dollars for the same amount of Australian dollars.”