Pound Falls as Strong Australian Trade Data Supports Aussie

The Pound to Australian Dollar exchange rate (GBP/AUD) has been trading around 1.9110, approximately 0.6% lower than last Friday's close, due to stronger economic data supporting the Australian currency.

Australia's goods trade surplus in June came in at A$1.93 billion, exceeding market expectations of a deficit of around A$1.1 billion. Exports surged 9.6%, driven by increased gold and mineral shipments, while imports declined by 0.2%.

Morgan Stanley forecasts GBP/AUD to fall to 1.82 over the coming months, nearly 5% below current levels, as the bank is bearish on the Pound but remains bullish on the Australian Dollar.