Aussie weakens on improved UK sentiment

The Australian dollar weakened slightly against sterling yesterday.

• The aussie’s losses against the pound came despite BoE policymaker, Kate Barker, suggesting that British interest rates were likely to remain low for an extended period of time.
  
• Sterling was boosted by industrial output figures yesterday, which rose unexpectedly in April.
  
• The rise was the first in over 12 months and provided further evidence that the UK economy could return to positive growth within the second or third quarter of this year.