The Pound to Australian Dollar exchange rate (GBP/AUD) is forecast to break above a key resistance line in the coming week amidst falling commodity prices and soft investor sentiment.
The Governor of the Reserve Bank of Australia (RBA) said the central bank won't be pushed into cutting interest rates until it felt the right conditions had been met.
The Australian Dollar is the day's biggest loser on a combination of sliding stock markets, falling commodities and higher U.S. treasury yields. Domestically, partial GDP data and a blowout current account deficit raised eyebrows.
Thursday's speech by Reserve Bank of Australia Governor Bullock is the main event out of Australia this week. However, it will be a U.S. jobs report that will determine where Friday's close is recorded.