FJD/AUD Price & Performance (FJDAUD)

The British Pound experienced fluctuations last week, influenced by trade optimism and weak domestic growth figures. January's GDP data showed a surprise contraction of 0.1%, raising concerns over the UK’s economic outlook. Meanwhile, the Bank of England’s upcoming interest rate decision is expected to shape GBP movements this week.1

The Australian Dollar faced challenges as China’s consumer price index dropped 0.7% year-on-year in February, signaling deflation and weaker demand. This trend alarmed markets about its impact on Australian exports. This week, Australia’s jobs data will be crucial in determining the currency’s performance.1

The GBP/AUD exchange rate reached a five-month high before retreating due to trade and economic concerns. While UK trade policy optimism supported the Pound, weak growth figures weighed on it. The Australian Dollar also faced pressure from China’s economic slowdown and global trade tensions.1