Forex
GBP/AUD Exchange Rate Retreats from Near Six-Week High Amid Profit-Taking
The Pound-Australian Dollar exchange rate reached a near six-week high on Wednesday night before retreating on Thursday due to profit-taking and supportive Australian data.
Australia's trade rebounded in August, with exports up 3.7% and imports up 5.8% month on month, following contractions in both July.
Rising commodity prices, particularly iron and coal, also supported the resource-linked Australian Dollar.
The Pound (GBP) lacked direction due to thin market-moving British data, with only the UK's final manufacturing PMI for September being released.