Investing.com - The Australian dollar surged to a 25-year high against the pound on Monday, as Australian stocks rose on stronger commodity prices.
GBP/AUD plummeted to 1.7128 at the start of the Asian trading session, breaking below a key support level at 1.72; it subsequently hovered around 1.7206 during European morning trade.
The pair was likely to find resistance at 1.8280, the high of Feb. 4, and support at 1. 7128.
Earlier Monday, Australia's S&P/ASX 200 Index climbed 1.78% amid firmer commodity prices and in the wake of a report Saturday that the German finance ministry had prepared a plan for euro zone nations to bail out debt-ridden Greece.
Meanwhile, official data showed that the sale of new motor vehicles in Australia was down by a seasonally adjusted 3.4% in January compared to the previous month.