Aussie trading remains steady today as investors await important US data this afternoon

Sterling continued to fall against the aussie, moving further away from gains made on Monday, to close down 0.4% at 1.9419.

• A choppy day in the European equity markets saw sterling relinquish early gains as stocks fell into the red in the afternoon.
  
• The aussie took a boost, however, from a rally in Asian stocks which boosted risk appetite for the higher-yielding currency.
  
• The Australian currency was prevented though from moving too high, as investors remained cautious of the RBA’s recent dovish remarks about the economic recovery.
  
• In trading so far this morning, the aussie has started to curb yesterday’s gains, with the pair currently trading steady near yesterday’s closing price.
  
• Analysts say that trading is likely to stay subdued this morning as investors await data on the US payrolls, released at 13:30 BST later today.