Aussie dollar strengthens thanks to EU summit

The Australian dollar has strengthened on the back of reports emerging from an important EU summit.

European leaders are meeting in Belgium to discuss ways to ease the huge financial problems within the eurozone.

The gathering has been positive so far, as the representatives have pledged to lower the borrowing costs incurred by Italy and Spain.

This has seen the Aussie dollar rise by a whole cent against the US equivalent, the Australian Associated Press reports.

Obviously, this is fantastic news for people who are looking for the best exchange rates before heading abroad.

Australia's currency had been riding high at the start of the year, but has fallen away since February, much to the dismay of holidaymakers and business travellers.

However, now might be a good time to purchase pre-paid travel cards, as you can lock in the high rate of exchange, even if your trip is not due for a while.

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