April 1, 2021 - Written by John Cameron GBP/AUD Exchange Rate Edges Higher on Upbeat UK PMI Data The Pound Australian Dollar (GBP/AUD) exchange rate rose by 0.2% today after the UK’s factory PMI surged and hit a decade-high of 58.9 in March. The pairing is currently fluctuating around AU$1.82. Analysts at Markit commented on the report: ‘Business sentiment was at its most elevated for seven years, hitting unsurpassed levels at both consumer and investment goods producers. ‘Almost two-thirds of manufacturers expect output to rise over the coming year (only 6% expect a contraction). Jobs growth was also at a seven-year high, supported by the sharpest rise in backlogs of work for 11 years.’