Australia's monthly rate of inflation has finally fallen into the Reserve Bank of Australia's target band, in an early signal that victory in the fight against rising prices is at hand.
The Australian Dollar is down against the majority of its currency peers after the Reserve Bank of Australia (RBA) hinted that it was taking a path towards its first interest rate cut.
The Pound and Australian Dollar are both outperformers in the current environment, which is flattening volatility in GBP/AUD.
A strong Australian employment report and the tailwinds of a generous 50 basis point cut from the Federal Reserve have boosted the Aussie Dollar and will press GBP/AUD towards range lows.