GBP/AUD – Live and Historical Rates
Both the British Pound and the Australian Dollar are major currencies. They are indeed among the most traded currencies in the world, though the pair that they make according to the above format, is not a major. The chart above shows the amount of AUD needed to purchase a GBP. As it’s obvious from the said chart, the GBP has been losing value against the AUD lately.
As said above, the GBP is a major currency indeed. It is in fact the third largest reserve currency and the 4th most traded one. It is also the oldest currency still in use today and its value has remained impressively high over time. The GBP has been floating since 1971.
Over the last few decades, besides being a simple currency, it has become a sort of sovereignty symbol for the UK: the country has refused to join the EUR, and now with Brexit a decided matter, it’s safe to say the GBP is here to stay.
The AUD started out pegged to the pound, in reflection of the colonial relationship which existed at the time between the two countries. Introduced in 1966, the AUD then spent some time pegged to the USD as well. Since 1983, it has been floating though, and being relatively stable, it required no major interventions on the part of the government. Due to its exposure to the Asian markets (Japan, Korea and China are indeed some of Australia’s biggest trade partners), the AUD has become a popular choice for currency traders looking for diversification.
The primary engines of the Australian economy are agriculture, mining and metals. That should give traders a decent grasp on what sort of price-movements are most likely to impact the AUD. The UK economy on the other hand, is based on manufacturing, services and finance.