Aussie ends 3-day rally vs. sterling

The aussie fell against the pound on Friday, ending a three-day rally as limited data and falls on global equity markets reduced investor appetite for riskier currencies.

• With little data out, Friday gave traders a chance to reassess last week’s economic releases. Bank of England Governor Mervyn King’s gloomy testimony on Wednesday contributed to sterling’s falls mid-week, however there was a feeling on Friday that the UK currency may have been oversold, helping it gain ground.
  
• There are no major announcements due in the UK or Australia today, so traders will take their lead from equities and broader market movements.