The Australian Dollar's golden egg - the country's trade surplus - surprised to the upside in November, according to data released on January 12.
The Australian Dollar cemented its 2023 outperformer status following the release of stronger-than-expected retail sales and inflation data which suggest the economy enters the year on a strong footing.
The Pound to Australian Dollar exchange rate entered the new week multi-month lows but would risk falling to some of its softest levels since late September if the currently outperforming antipodean currency remains ascendant in the days ahead.
The Australian Dollar surged higher following news China was considering lifting a coal import, confirming the currency's close ties to developments out of China.
The Pound to Australian Dollar exchange rate entered the New Year trading on the front foot but inflation differentials suggest that it's fairly priced anywhere between 1.7526 and 1.8169 while the ongoing undervaluation of AUD/USD is a possible limit on the upside for GBP/AUD up ahead.
The Australian Dollar was an outperformer among major currencies in mid-week trade following an announced reopening of China's borders for in and outbound travelers, helping to drive GBP/AUD near one-month lows while potentially leaving Sterling at risk of further losses.
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