Aussie continues to strenghten against the pound as strong equities heighten risk sentiment

The Australian dollar posted further gains against the pound on Friday as risk aversion eased following US payroll data.

• Having traded relatively steadily on Friday morning, the aussie was able to post strong gains in the afternoon as investors were encouraged into the higher yielding currency following the release of the US non-farm payrolls.
  
• Although the data released was ambiguous due to the rise in overall unemployment, investors chose to focus on the brighter side of the data, which eased risk aversion and increased demand for the Australian currency.
  
• The aussie has continued to trade strongly this morning as firm Asian stocks supported bids for riskier currencies.
  
• An upbeat job ads report released this morning added to the overall positive note in the Australian markets with sterling currently trading 0.25% down for the day.
  
• Analysts have warned that as markets are shut in the US today, thin trade could exaggerate any moves in the Aussie later today.