Dollar strengthens on Greek election results

The Australian dollar has strengthened on the back of the Greek election results – which is great news for holidaymakers who are desperately searching for the best exchange rates.

Greece recently received a huge financial bailout from the international community and there were fears that anti-rescue fund parties may succeed in the polls.

However, the New Democracy Party – which has pledged to stick with the agreement – emerged victorious and is in the process of setting up a coalition government.

Many Aussies may not realise that political developments in Europe can affect them – but they certainly do.

The dollar has weakened against a number of major currencies since February, so any upturn is obviously welcome. A lot of people from down under have ambitions to tour around Europe and there has hardly been a better time to do this.

With the euro struggling so badly, you can guarantee that your overseas travel money will stretch much further than it has done in the past when you visit places like Greece, Italy, Spain or France.

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