Weak equities hurt the pound yesterday, but it has recovered against the aussie today following the words of the RBA

Having made strong early gains, the pound steadily lost value against the aussie throughout the day, eventually closing down at 1.9221.

• The pound was pushed down yesterday as the FTSE fell back below 5000 points, quelling demand for the UK currency.
  
• Although the stock markets rallied in the afternoon, illustrating that investors were willing to look past a trade dispute between the US and China and take on more risk, the pound failed to cap its losses.
  
• The Australian dollar has dipped this morning after minutes of the Reserve Bank of Australia’s last policy meeting gave little guidance to markets on when the interest rate would be raised.
  
• The RBA stated that before it could raise cash rates, it needed further evidence that the nascent recovery, both at home and abroad, could be sustained in coming months.
  
• Currently the pound is trading up near the 1.93 level again, as selling pressure mounts on the aussie.