The Pound Australian Dollar (GBP/AUD) exchange rate fell on Wednesday. Signs of poor performance in the UK’s manufacturing sector pushed the pairing lower.
Additionally, signs of improvement in China’s economy also prompted losses in GBP/AUD.
At time of writing the GBP/AUD exchange rate was at around AU$1.7418, which was down roughly 0.2% from that morning’s opening figures.
The Pound (GBP) edged higher today. Sterling saw gains against its riskier peers due to a pullback in risk appetite. The currency is slipped against a stronger Australian Dollar (AUD), however.
GBP came under pressure from further poor data releases for the UK’s private sectors. The final reading of January’s PMI indicated a sixth consecutive month of contraction in the UK’s manufacturing sector. Soaring price inflation and weak demand weighed on the sector.