GBP/AUD Exchange Rate Holds Steady as UK and Aussie Economies Face Uncertainty

The Pound to Australian Dollar exchange rate remained steady near 1.9189 at the end of July, following a volatile final week that left little change for the month.

UK business surveys and Australian spending and trade figures will play a significant role in shaping direction in the coming days.

The Bank of England's decision to keep Bank Rate at 3.75% was seen as supportive for Sterling, but Governor Andrew Bailey pushed back against suggestions that a September hike was imminent.

Meanwhile, the Australian Dollar finished the week firmly, with markets almost completely removing the prospect of an RBA hike at its August meeting following slower-than-expected inflation in Q2.