Pound to Australian Dollar Price News, Forecast: GBP Falls on Strong Aussie Jobs Data

The pound fell against the Australian dollar after Australia’s June employment report showed a much stronger-than-expected gain of 76,300 jobs versus forecasts for 15,000. The data lifted the Aussie by reinforcing expectations that the Reserve Bank of Australia may need to keep tightening policy later this year. GBP/AUD slipped to a near one-month low around 1.9066 before recovering slightly to about 1.9091. Sterling also remained under pressure from UK political and fiscal uncertainty, with investors questioning how the government’s spending pledges and tax cuts will be financed. Near-term direction now hinges on Australia’s PMI surveys and UK retail sales/PMI releases, which could drive volatility in the pair.