Leading foreign exchange expert, ICE (International Currency Exchange), has analysed the fortunes of the British Pound to the Australian Dollar over the last year to mark Australia Day (26th January 2009). The Pound is currently worth A$2.11 which is actually around 3% stronger than 6 months ago (A$2.05) and 7% weaker than this time January last year (A$2.26).

While the recent fall in the value of the Pound to Australian Dollar has meant that British holidaymakers heading Down Under get less for their money, Andrew Hamilton, Head of Marketing at ICE, believes Australia is still a favoured destination, "Australian Dollar currency orders are consistently third or fourth in the ICE top 20 currency list with an average order value of £600 equivalent."

"The Pound ranged between A$2.05 and A$2.20 for most of last year but we have seen major fluctuations from the end of last September into the new year. Indeed, the peak on 8th October 2008 was big news for many Australians living in the UK with some lucky expats able to lock in their hard earned Pounds at or around A$2.70.

"We saw a massive 25% drop from that high to a low of A$2.02 in early January. But now the rate is back in line with its level prior to the onset of the global recession."