The Euro Goes Up Against The Aussie Dollar

Posted March 20, 2011

The first day back after the holidays saw the rate fall to 1.3085, but the very next day it bounced back to 1.3298 for the Euro. The end of that first week saw the exchange rate fall below those two figures, giving us a closing rate of 1.3060 in the process.

 

It was early days though so it was not the time to be negative about these early results. Indeed the situation the Euro found itself in just a week later was very different indeed. Clearly something was happening during that week because by the time it was over the exchange rate had gone up to 1.3528. This was quite a jump for the Euro and one that it would hope to hang onto as well.


But it looked as if it wasn’t to be, since the rate dipped back to 1.3371 during the next week. The Euro was not to be silenced though and it soon fought back against the Aussie dollar, giving it a week ending rate of 1.3666 in the process.


The highest rate of the month was still to come as well, and it finally occurred on the 27th. This was when the Euro finished the day on 1.3845. Unfortunately it lost some more ground before the month was out, but it still did well overall. The final exchange rate for the Euro versus the Aussie dollar was 1.3763, so it wasn’t far below the high point for the month.


Indeed the month as a whole was excellent at least as far as the Euro was concerned. It went from 1.3136 to 1.3763 – quite a jump up and one that the Euro will no doubt hope to keep up.