GBP/AUD Falls Amid BoE Decision, Australia Jobs Data Key Driver

The Pound-Australian Dollar exchange rate has been under pressure in recent weeks due to the Bank of England's decision to keep interest rates on hold. The GBP/AUD rate fell by around 0.5% last week, trading at AU$1.8761. This comes after a mixed batch of UK economic data, including unemployment figures that showed no change in July.

The Australian Dollar, however, has been well-positioned to rebound due to ongoing Reserve Bank of Australia (RBA) rate hike bets. Expectations for a September hike were bolstered by hawkish remarks from RBA Governor Michelle Bullock at the end of last week.

This week's session will be driven by macroeconomic data, with the UK's latest PMIs set to be published. If these reports show a moderation of activity in the private sector, it could put further pressure on Sterling. Meanwhile, Australia's jobs report will be released in the second half of the week, which could strengthen the Aussie if employment growth rebounds.