Aussie weakens against the pound

The Australian dollar remained in narrow ranges against sterling over the weekend, as rises in regional stock markets saw investors start to consider taking on riskier assets again. However, the pound remained weighed down by the BoE's continuing programme of quantitative easing. The central bank announced details to purchase another 5 billion pounds of UK Gilts. Little major domestic data is due out of either country today, so direction is likely to come from broader market movements as well as corporate news.