Australian Dollar Article List

The pound sterling versus New Zealand dollar exchange rate is 0.3 pct down at 1.8631.

Please Note: The above quotes are taken from the wholesale spot markets - your bank will affix their own spread to these rates when passing on their retail offer. However, an independent FX provider will guarantee to undercut your bank; thus delivering you more currency. Please find out more here.

GBP/AUD has shied away from its highs this morning, "but weakening AUD drivers remain in place," warns analyst Richard Driver at Caxton FX.

According to Driver it is concerns over Chinese economic growth that are weighing on AUD.

"It was not so long ago that expectations were for double-digit GDP growth but forecasts are being downgraded all the time. Chinese manufacturing data at the end of the week is expected to dip back into contraction territory again, which should further cloud the AUD-outlook," says Driver.

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GBP/AUD trades at 1.56 and a bounce is likely to be triggered soon warn Caxton FX.

New Zealand dollar boosted by risk appetite

Elsewhere, the pound sterling is trading a little lower against the NZD thanks to a surge in risk appetite.

"Asian equities made some hefty gains last night and Europe has picked up where they left off. This has given the NZD a bit of a lift but concerns over China should keep the rally in check," says Driver.

For obvious reasons (monetary policy and growth), the NZD continues to outperform the AUD, but GBP/NZD still has potential to eke out further gains. 1.86 is the current level.