GBP/AUD Holds Near 1.8831 as BoE Dovishness Weighs on Sterling

GBP/AUD has stabilized around 1.8831 after retreating from a June peak near 1.9120. The pair climbed above 1.90 mid-month after the RBA held rates and signaled caution, but reversed sharply once UK inflation missed forecasts, triggering a dovish BoE response and fresh political uncertainty. Despite 30-year gilt yields easing from 5.90% to 5.45% after the US-Iran ceasefire, sterling remains under pressure with GBP/USD stuck in the low 1.32s. Early-month gains had been fueled by soft Australian data and risk-off flows, yet those supports faded by late June.