There’s currently some cheap airfares going for travel between Australia and Europe.
If you’re in the market for a European summer jaunt, or have already bought and are wondering when the best time would be to swap your Australian dollars into euro, you may want to hold off a for a few weeks yet.
According to Sean Callow, senior currency strategist at Westpac, the Aussie is likely to strengthen in the next few weeks.
“AUD should outperform EUR in the next few weeks, as we head into the first round of the French presidential election and with Australia’s domestic news flow likely to be broadly supportive,” he wrote on Wednesday.
He says that the euro appears likely to suffer “temporary jitters” ahead of first-round voting on April 23, and believes that will continue through to the second round of voting on May 3.
While Callow sees the Aussie strengthening modestly near-term, he says that it’s hard to see the AUD/EUR extending much higher than the .7200-50 region.
The AUD/USD currently buys .7131.
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