The pound has fallen against the aussie, undermined by a comment from Fitch Ratings agency

The pound fell half a cent against the aussie yesterday, as improved investor sentiment buoyed riskier currencies.

• The aussie found support as commodity-linked currencies were lifted by increasing investor confidence about the global economic recovery.
  
• Leading global equity markets rallied by over 2%, which buoyed risk appetite lifting the Australian dollar.
  
• In addition, high-risk currencies were supported as the IMF named the US dollar the currency of choice for funding the carry trade.
  
• In trading this morning, the pound has fallen further after ratings agency Fitch said the UK's sovereign credit rating is most at risk among top-rated nations.