Poor data has hindered the aussie's progress, allowing the pound to regain losses

Disappointing retail figures and rising monthly unemployment in Australia has allowed the pound to rally its recent sharp losses against the aussie.

• Firm gold and commodity prices prevented the pound from gaining significant ground against the aussie dollar yesterday after a surprising drop in retail sales in Australia in July had initially dimmed demand for the currency.
  
• The pound, however, was able to move 0.5 cents further from the 13-year low hit on Monday as European equities spurred demand for the currency.
  
• Sterling has continued to make gains in trading this morning after data from Australia revealed a surprisingly big rise in unemployment in August, which undermined expectations for a rise in interest rates in the near future.
  
• Demand for the aussie has cooled following the data, even though overall unemployment remained steady at 5.8%, with the pound moving up 0.3% in trading today.