GBP/AUD Falls as Strong Aussie Data Reaffirms RBA Rate Hike Expectations

The Pound to Australian Dollar (GBP/AUD) exchange rate has fallen to its weakest level since late June, as stronger Australian economic data reinforced expectations for further Reserve Bank of Australia interest rate hikes.

At the time of writing, GBP/AUD was trading around AU$1.9073, down approximately 1% over the week.

The Australian Dollar proved remarkably resilient last week, defying the broader deterioration in market sentiment linked to renewed conflict in the Middle East.

While risk appetite weakened during the second half of the week as geopolitical tensions intensified and oil prices climbed, the 'Aussie' avoided a sharper sell-off thanks to stronger domestic economic data.