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    Great News for Travelers to Europe this Summer

    Stronger AUD, USD, and GBP Against the Euro due to surprise French elections.

    Jun 25, 2024 (Upd: Jun 26, 2024)  
     

    Planning a trip to Europe? Whether you’re from Australia, the United States, or the United Kingdom, there’s good news for your travel budget! The Australian dollar (AUD), US dollar (USD), and British pound (GBP) have all strengthened against the euro (EUR), giving you more bang for your buck.

    Australians Headed to Europe: More Spending Money!

    Australians traveling to Europe will benefit from the AUD reaching its highest level against the euro in over a year. Due to political uncertainty in France, where President Emmanuel Macron has called for snap elections, the euro has weakened. This has helped the AUD to rise to €0.62, with potential to climb higher. Experts predict it might reach €0.6257 by next week and even €0.66 by the end of 2025. So, your Aussie dollars will go further, making your European vacation more affordable.

    Brits: GBP at 18-Month High Against the Euro

    British travelers will be pleased to know that the GBP has reached an 18-month high against the euro at 1.18. The uncertainty in France has contributed to this strong exchange rate, allowing you to get more euros for your pounds. This is great news for anyone planning a European getaway, as it means more money for enjoying the local culture and attractions.

    Americans: USD at One-Month High Against the Euro

    For American travelers, the USD has also strengthened against the euro, hitting a one-month high at 0.93. The political turmoil in France has spooked investors, leading to a weaker euro. This means your dollars will stretch further when you’re spending in Europe, giving you extra cash for sightseeing, dining, and shopping.

    What’s Happening in France?

    The current political situation in France is a key factor in the euro’s weakness. President Macron’s decision to call for new elections after his party’s defeat in the European Parliament elections has created uncertainty. Investors are worried about potential high-spending economic policies from a far-right government, leading to a weaker euro.

    Future Predictions

    Experts are optimistic about the continued strength of the AUD, USD, and GBP against the euro. The Australian dollar is expected to reach around €0.66 by the end of 2025, while the USD and GBP are also likely to remain strong. This means ongoing benefits for travelers from these countries.

    Enjoy Your Trip

    Whether you’re from Australia, the US, or the UK, now is a great time to compare currency exchange rate providers for your European adventure. With stronger exchange rates, your money will go further, making your trip more enjoyable and less expensive. Safe travels and happy spending!

    Great News for Travelers to Europe this Summer posted under: News  

    Disclaimer: Please note any provider recommendations, currency forecasts or any opinions of our authors or users should not be taken as a reference to buy or sell any financial product.