Aussie heads higher against GBP

The pound weakened against the Australian dollar yesterday, losing a cent to finish the day at 2.0714.

• The Australian dollar recovered some ground yesterday as a rise in US stocks gave the riskier currency a boost.
  
• However, trading was choppy yesterday as sentiment remains fragile at the moment, with markets speculating that recent optimism was overdone.
  
• The aussie gained further ground against the pound overnight, as the Australian currency was supported by stronger business data.
  
• The National Australia Bank Business Conditions report climbed by 12 index points to -2, taking it back to the level before the collapse of Lehman Brothers in September last year.