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AUD Update: Wage growth slows against inflation

James Baxter - AUD Update: Wage growth slows against inflationJames Baxter
Senior Currency Broker
T: 01442 892 062

GBP/AUD has fallen around 0.5% over the last 24 hours as poor average earnings growth has weighed heavily on the pound, weakening the UK currency across the board.

With wage growth not rising as quickly as inflation, real earnings are now falling and consumers will soon start feeling the pinch, which may have a negative impact on consumer spending, one of the main drivers of UK economic growth at the moment. Robust employment data from Australia this morning has also lent support to the Australian dollar, pushing GBP/AUD down in the process. There are no more significant data releases from either country today. At the time of writing, GBP/AUD is trading in the low 1.62’s and AUD/EUR is sitting in the mid 0.72’s, unchanged over the last 24 hours.

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To keep up to date with the Australian dollar, visit our AUD blog section on our website here.

To keep up to date with all our currency news, visit our Currency News section on our website here.

James Baxter
Senior Currency Broker
T: 01442 892 062

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