The pound Australian dollar exchange rate is 0.296% lower with 1 GBP = 1.5268 AUD. The euro Australian dollar exchange rate is 0.909% lower with 1 EUR = 1.3331 AUD. The Australian dollar to US dollar exchange rate is 0.329% higher with 1 AUD = 1.0358 USD. Yesterday’s positive news from the group of five central banks boosted risk appetite and sent the Australian dollar higher. The Nikkei closed over 2.0% up on the day as a result of yesterday’s European liquidity announcement. We doubt that risk appetite can push the Australian dollar on from these levels. "Sterling is trading down at 1.5250 against the Australian dollar, but we still can’t see a return to the September lows of 1.50, let alone July’s lows of 1.48. Risk appetite simply looks too vulnerable and we expect sideways or upwards movement from here today," says a note from Caxton Fx. Looking at the New Zealand dollar we see that this currency also outperformed yesterday amid improved investor sentiment. The New Zealand dollar has made a strong recovery from the Reserve Bank of New Zealand’s disappointingly dovish monetary policy statement earlier on this week. As ever, global headlines are proving much more important for the kiwi than domestic issues. If Governor Bollard’s pessimistic outlook for the global financial sector comes to fruition, you can expect the kiwi to really suffer. GBP NZD is trading not far off a six-week low at 1.91 this morning, the kiwi has made strong gains this morning but should meet some resistance at these levels.

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