Following a positive start, the pound has lost value against the higher-yeilding aussie

The pound continued to climb against the aussie currency on Friday, closing up at 1.9307, as investment sentiment in the pound remained strong.

• Earlier this morning, the pound reached a weekly high of 1.9476, as higher-yielding currencies suffered a broad sell off.
  
• A fall in metal and crude oil prices weighed heavily on the Australian dollar. US crude for October delivery fell to around $63.13 a barrel while copper was lower in Asian trade.
  
• However, the pound has fallen from early highs, with the aussie currently trading around 0.3% higher for the day.
  
• Looking ahead, investors will focus on the minutes of the Reserve Bank of Australia’s September policy meeting which will be released on Tuesday.
  
• Investors have recently pared bets of a rate increase in Australia in coming months after surprisingly soft retail sales data and a weak jobs report.