Look at sterling soar! The pound clawed more than 4 cents from the Australian dollar last week, as poor retail sales plus jitters about the global outlook pulled down confidence in Australia. Thinking about changing pounds into emu dollars? Then without a doubt the time is ripe!

Taking a closer nose at retail sales in Australia, growth sank to its deepest nadir since 1961(!) in June according to the Bureau of Statistics. Headlines regarding behemoth debt in both the Eurozone and US set knees knocking among consumers, prompting them to squirrel away their paycheques. This in spite of a deluge of price cuts among retailers, in a futile attempt to tempt people into their stores. Commenting on these lacklustre numbers, CommSec economist Savanth Sebastian said: "it was even more discouraging to see anaemic growth despite a raft of retailers still cutting prices."

Furthermore, the pound scored against its antipodean rival not just because of cautious consumers down under, but renewed confidence in Britain. To the markets, Chancellor George Osborne's program of spending cuts makes him a model of fiscal responsibility, at a time when the US and Eurozone are coming apart at the seams. This has prompted the markets to pile funds into Britain, expanding out the pound like a balloon filled with water. Best take advantage before it bursts, no?