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.