The Pound Australian Dollar (GBP/AUD) exchange rate is slipping on Wednesday giving back some gains from the previous session. The pair trades -0.1% at 1.8254.
The risk sensitive Australian Dollar is looking past the risk off mood in the broader market, instead focusing on encouraging construction data. Construction work done declined -0.7% in Q2 well ahead of the -5.8% decline that analysts forecast.
The Pound is weighed down by Brexit concerns as Michel Barnier tells European states to be “cold bloodied” with the UK. The CBI’s latest survey also added to the downbeat tone revealing that the retail sector is experiencing job cuts at the fastest rate since 2009, with more cuts to come
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