The Australian Dollar scaled January highs as it proves to be one of the main beneficiaries of the relief rally underway in global markets, which can continue into the weekend.
The Australian Dollar is the top-performing G10 currency after Australian retail sales beat expectations and raised the odds of another interest rate rise at the country's central bank.
The Australian Dollar is on the defensive after the Reserve Bank of Australia released its June meeting minutes, however, weakness might prove shortlived.
Since the start of the year, the year-end median forecast for the Pound to Australian dollar exchange rate has risen by 500 pips.