Travellers rejoice over the Aussie dollars 3 month high

Any Australians heading overseas for the festive season wil have the added Christmas bonus of the best exchange rates in over 3 months, giving them more purchase power for their travel money.

According to SKY News, the Aussie dollar was trading at 105.22 US cents this morning, up from 104.82 cents on Tuesday afternoon. The highest the Aussie dollar has been since September 17, 2012.

A rebound of German investor confidence following news the country could avoid a recession in 2013, spilled over into global markets, having a knock on effect of lifting the Aussie dollar.

The currency also benefited from optimism surrounding US debt negotiations and avoiding the fiscal cliff, with reports of progress in talks between Republicans and Democrats. According to Bank of New Zealand strategist Mike Jones, 'It's a case of the market maintaining it's glass half full approach to the fiscal cliff talks.'

The Australian dollar at 8:20am was buying $US1.052 cents, 65.36 Pence Sterling, 86.88 Yen and 80.98 Euro cents reports the Finance News Network. Good news for travellers looking to purchase foreign exchange and pre-paid travel cards for their upcoming holidays.

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