Sterling vs Australian Dollar rates have retracted from their recent 6 year highs of 2 as UK data came out slightly lower than expected.
Services data in the UK came out a lot lower than expected and the Australian GDP data came out a lot higher than expected which has seen big gains for the Aussie vs Sterling during today’s trading session.
In fact GDP down under was measured at 2.3% compared to 2.1% which gave rise to the strength.
With Australian Retail Sales due out in the morning if the data reinforces the GDP from today we could see further losses for Sterling vs Australian Dollar.
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