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Pound Sterling to Australian Dollar (GBP/AUD) Exchange Rate – Local data supported ‘Aussie’

pound sterling to Australian dollar

The Australian Dollar managed to recover some ground against the Pound early in Tuesday’s session as positive local data showed that business confidence in Australia remains high.

The Pound could have resumed its run of gains against the Australian Dollar following the release of house price data which showed that UK prices leapt to their highest level in more than a decade last month. Investors widely ignore the report and instead are focusing on other data releases including industrial production and trade deficit reports.

The ‘Aussie’ received some support after a report from the National Australia Bank showed that its monthly business confidence survey came in strongly. The report showed that confidence fell from 6 to 5 in November and business conditions remained subdued but it was enough to push the currency higher. As a result the currency climbed above the 91 cents mark against the US Dollar.

“At the release of the NAB Business Confidence prior to lunch, we saw the Aussie Dollar take a brief dip, only to retrace its steps minutes later, The Australian Dollar managed to creep upwards, making its way comfortably past the US 91c barrier,” said a sales trader at CMC Markets.

It then softened after a Federal Reserve policy maker said that the US Central Bank could begin tapering its monetary easing programme as early as next week.

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Against the New Zealand Dollar the ‘Aussie’ remained at a five-year low as the New Zealand government announced that it expects construction in the smaller Oceanic nation will surge over the next few years.

Current Australian Dollar Exchange (AUD) Rates

The Australian Dollar/US Dollar Exchange Rate is currently in the region of: 0.9100

The Australian Dollar/Euro Exchange Rate is currently in the region of: 0.6621

The Australian Dollar/Pound Sterling Exchange Rate is currently in the region of: 0.5539

The Australian Dollar/ New Zealand Dollar Exchange Rate is currently in the region of: 1.0973

The US Dollar/Australian Dollar Exchange Rate is currently in the region of: 1.10987

The Euro/Australian Dollar Exchange Rate is currently in the region of: 1.5097

The Pound Sterling /Australian Dollar Exchange Rate is currently in the region of: 1.8050

The New Zealand Dollar/Australian Dollar Exchange Rate is currently in the region of: 0.9100

Correct as of 09:35 am GMT

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