The Pound Australian Dollar (GBP/AUD) exchange rate is trading higher for a third straight session. GBP/AUD trades +0.1% at 1.8171.
The Aussie Dollar is slumping across the board as the Australian GDP shrank by -7% QoQ in the April – June quarter. This was the deepest contraction since records began in 1959 and its first recession in 30 years.
The Pound is pushing higher as UK house prices continue to rise. House prices jumped +2% in August, adding to gains of 1.8% in July.
Attention will now turn to Andrew Bailey who speaks before the Treasury select committee.
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