Aussie was stronger yesterday as risk strengthened, the reverse is true of trading this morning though

The aussie continued to climb higher against the pound yesterday, finding support as risk appetite returned to the market.

• Global equities climbed near two percent, which supported a move away from the dollar and yen safe-haven currencies, and into high-risk denominations.
  
• Gold reached another record high yesterday, breaching $1170 per ounce as concern over dollar weakness encouraged investors into the precious metal, which supported demand for the commodity-linked aussie dollar.
  
• However, Asian equities traded in the red overnight, which has dulled demand for the aussie, enabling the pound to posted gains this morning with the price currently back over 1.80.
  
• Analysts have noted that hedge funds have been among the biggest sellers of the aussie in recent days as they move to cash in profits before year-end.