# Australian Dollar Advances on Strong GDP Data, More Gains Against Pound Likely

> The Australian dollar was the best-performing G10 currency on March 1 after fourth-quarter GDP grew an annualised 2.4%, versus a 1.9% forecast. Economists said weak wage growth makes a near-term RBA rate hike unlikely.

- Date: 2017-02-28 · published 2017-02-28T12:00:00.000Z
- Category: macro · region Australia · magnitude low
- Page: https://feedsoft.ai/events/72765-australian-dollar-advances-on-strong-gdp-data-more-gains-against-pound-likely
- Commodities: [Australian Dollar (USD per AUD)](https://feedsoft.ai/c/AUDUSD.md)

## Why it matters

Stronger Australian growth supports the AUD, which affects the competitiveness of Australian grain and meat exports against US and Brazilian supply. Low wage growth suggests the currency gains may be limited.

## Read by commodity

- AUDUSD: bullish ▲

## Sources

- poundsterlinglive.com: https://www.poundsterlinglive.com/aud/6297-the-pound-to-australian-dollar-has-downside-bias-next-stop-1-6000

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.