Australian dollar hits 2014 high against euro

This is particularly true of the so-called peripheral economies of Greece, Portugal, Spain and Ireland, whose recovery, although strong off a very low base, has been stymied by the high euro.. "The problem has been the ability of some of these peripheral countries to try and internally devalue by getting their prices down and becoming much more competitive," said Tyndall Investment Management’s head of fixed income Roger Bridges. "This was being made worse by the fact that the euro kept on climbing. "So one of the benefits of the recent uncertainty has been the decline in the euro," he said. The 5. 8-metre long Rolls-Royce Phantom II is ‘a bit of a bargain’ at more than $800,000.

Read more here: SMH


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