The Pound Australian Dollar (GBP/AUD) exchange rate is trading mildly lower on Tuesday after strong gains in the previous session. The pair is finding some support at 1.76.
UK unemployment rate moved higher to 4.2% in the three months to July, up from 3.9%. On the plus side, the claimant count was better than expected at 73,700 against 100,000 forecast.
The minutes from the Reserve Bank of Australia’s September meeting were relatively upbeat saying that the downturn hadn’t been as deep as initially expected. The central bank also sees a recovery underway across Australia.