GBP to AUD pair trading
As the world’s oldest currency still in use, the Pound Sterling has withstood the test of time to become one of the modern world’s most reliable and popular choices for those venturing into the forex market. Together with the Australian dollar it forms the GBP to AUD pair, a frequently used cross trading pair that can provide attractive opportunities for prospective traders.
Both of these currencies feature in the top 10 most traded around the world, while the trading relationship between the two countries was worth £16.6 billion in the 12 months up to March 2019.
The UK represents Australia’s eighth largest trading partner, while the UK’s total foreign investment in Australia amounted to $574.8 billion in 2018. However, those monitoring the GBP to AUD rate will be keeping a keen eye on the UK’s political landscape over the coming months.
GBP to AUD news
With the UK seemingly set to leave the EU on the back of the 2016 Brexit referendum, it has agreed to begin trade negotiations with Australia with a view to coming to terms on a free trade agreement.
Any such deal could have a significant impact on the GBP to AUD rate, meaning traders will be closely monitoring the progress of the negotiations. Australia’s status as one of the world’s premier producers of gold means that any fluctuations in the price of that particular element could also play a pivotal role in future GBP to AUD news.
GBP to AUD chart
Our GBP to AUD chart presents you with the opportunity to monitor the real-time performance of this forex pair. On top of that, any current or future traders can track the movement of the GBP to AUD rate across an hourly, daily, weekly or monthly period, which offers them the chance to gain potentially key insights into any emerging trends. The data in our GBP to AUD chart must not be taken as a guarantee or promise of any future performance of the GBP to AUD pair, however.