Euro weakens against the Aussie Dollar due to Cyprus uncertainty. (Ben Amrany)

AUD GBP Erases Earlier Losses to Point Higher

The Euro has weakened against a host of majors after news from Cyprus has sent the currency free falling as a new round in Europe’s debt crisis is now emerging. The government are trying to levy a tax of up to 10% on savers funds in the country. The Aussie has been able to capitalise on this strengthening by around 0.8% up at 1.2460 today. This is the best level for buying your Euros since the 10th of January.

After the 10th of Jan the Euro strengthened against the Aussie rallying up to 1.32 so this current spike for Euro buyers is a welcome boost. If you are looking at buying the Euro then this week may just enable you to gain an extra 2% if the Euro continues to weaken. A limit order may be ideal to help you achieve a better rate than what is currently available.

If you require buying Euros with your Aussie Dollars then please do feel free to contact me and inform me what your requirement is. I will be happy to be your eyes on the market if you do not have time to constantly watch the markets. With the excellent buying opportunities that may occur this week email me at [email protected] and I can explain the process of getting better rates through us than your bank. If you have any target levels that you would like to be informed about then email me and I can let you know when this rate occurs.

Ben Amrany

[email protected]