The pound has reversed its downward trend against the aussie today on rising European equities

The pound fell for a fourth consecutive day against the aussie yesterday, driven by a broad rise in risk sentiment.

• The Australian dollar hit its strongest level in thirteen years against the pound yesterday as improved investor sentiment was sparked by reassurances from the G20, who pledged to continue with policies aimed at supporting the global economy following a meeting in London over the weekend.
  
• Although there was not a big market reaction to the G20 meeting, part caused by the US Labor Day holiday, the outcome was certainly pro-risk appetite, which strengthened demand for the Australian currency, driving the pound down 1.9098, a 0.9% dip.
  
• The aussie was given an additional lift by the first rise in Australian job advertisements in 16 months, which increased speculation that the Reserve Bank of Australia may raise rates before the end of the year.
  
• In trading so far this morning, the aussie has pared its gains as investor appetite towards riskier assets was tamed as Asian stocks traded in the red.