The British pound to the Australian dollar is very popular with Forex traders. Australia and Great Britain are connected by centuries-old and strong economic ties and until now a high level of trade is maintained between these countries, which undoubtedly affects the exchange rate of both currencies.
AUD and GBP are the most stable national currencies in the world, so the GBP / AUD pair is very attractive for novice traders. It is worth remembering that it is necessary to pay attention to changes in the USD rate, since the US dollar has a significant impact on both currencies in the pair. The high interest rate in Australia makes it possible for a carry trade.
The Australian dollar is a commodity currency. The Australian economy is almost 70% connected with China, Japan and the United States. Australia is an agrarian country and one of the leaders in the extraction of precious metals and raw materials.
The pound sterling rate is influenced by external and internal factors. For example, such macroeconomic factors, as an indicator of unemployment, inflation, gross national product and balance of a trade. External factors are economic relations with the United States and Europe, that is, a deterioration or improvement in the economic condition of the UK's partners affects the pound itself.
Using the current exchange rate chart, you can monitor the volatility of a currency pair in real time.
The GBP / AUD pair is built on the principle of direct quotation. The base currency is GBP, the British pound, and quoted - AUD, the Australian dollar. The growth of the currency pair means strengthening of the British pound against the Australian dollar, that is, to buy one GBP, more AUD is required. A decrease in the exchange rate indicates the strengthening of the Australian dollar.
Australian dollar - (bank code: AUD) - the official currency of the Commonwealth of Australia, also has circulation on the islands of Christmas, Cocos Islands and Norfolk Island. In addition, AUD has circulation in the states: Kiribati, Nauru and Tuvalu. The Reserve Bank of Australia issues the Australian dollar, as well as the regulation of the Australian banking and monetary systems.
British pound, pound sterling or pound - (currency symbol: £, Bank code: GBP) is a currency that acts as the national currency of the United Kingdom of Great Britain and Northern Ireland, including England, Scotland and Wales. Also the pound is a parallel currency of the crown lands of Guernsey, Jersey and the Isle of Man. The pound sterling is a legal tender for the British overseas territories: the Falkland Islands, Gibraltar, St. Helena, Ascension and Tristan da Cunha. The Bank of England has the right of money issue and regulation.
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