The Australian dollar churned out a 2% gain against the pound this week, recovering from its slight drop towards the latter stages of last week. In terms of economic releases it was a rather quiet week for data from Australia itself. 

However strong business sentiment figures in China and an increase in demand from offshore buyers for Australian property has reduced the possibility of further  interest rate cuts. In other news commodity prices have in fact boosted the Australian dollar against the US dollar, which has taken a time out as the US celebrates the Thanksgiving holiday.