Higher equities and gold prices kept the aussie trading strongly on Friday

The pound was down 0.4% against the aussie dollar as stronger US equities maintained a level of risk appetite, which supported the higher-yield currency.

• In addition to stronger stocks, the aussie also found support from a continued rise in the price of gold as investors looked to diversify their trading portfolios in order to hedge against a weak US dollar.
  
• Gold climbed to an all-time high as investors stepped up purchases of the precious metal on speculation that the dollar will extend its decline.
  
• However, the world's top mining companies have warned today that global production of gold is likely to resume a long-term decline in coming years, which may prove a burden to the aussie in the future.
  
• In trading this morning, the pair are holding steady, with investors awaiting comments from Obama's visit to China where the valuation of the Chinese yuan is being discussed.
  
• Given the close trading relation between China and Australia, the strength of the yuan has strong influence on that of the aussie.