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The Australian dollar, differentiated form the US dollar by abbreviating it A$ or AU$, is the legal currency of Australia and all of its territories – Norfolk Island, the Cocos or Keeling Islands and Christmas Island. It is also the currency of Tuvalu, Nauru and Kiribati, which are sovereign states in the Pacific. It was also legal tender in Papua New Guinea and the Solomon Islands until the mid-1970s. The AUD was introduced in 1966, replacing the former Australian pound. However, its exchange rate was fixed to the pound sterling at a rate of A$2 to UK£1 until 1977
The New Zealand dollar called the tāra o Aotearoa in Māori, is differentiated form the US dollar as NZ$ or $NZ. It is the legal tender of New Zealand, of course, but also of the Pitcairn Islands, Tokelau, the Ross Dependency, Niue, and the Cook Islands. The 1 NZD coins depict a kiwi bird, and the NZD is often called the Kiwi.
The AUDNZD currency pair is heavily influenced by the relative strength of the two economies, with Australia historically having a stronger economy than New Zealand. Over the years, this has resulted in significant fluctuations in price for the AUDNZD currency pair. In recent times, however, there has been a more steady trend in prices as both currencies have strengthened in line with one another. The AUDNZD has been trading around the 1.08 mark since 2018, after a steep fall from 1.36 in 2011.
Understanding price history for the AUDNZD can provide valuable insight into the future direction of this currency pair, and help traders make more informed decisions when it comes to their trading strategies.
When it comes to trading AUDNZD, there are a few things to consider. Firstly, this is an exotic currency pair that does not typically experience the same level of volatility as some of the more commonly traded pairs do. Additionally, the Australian Dollar has a strong influence on how this currency pair moves, so understanding how the AUD is affected by economic events and news releases can be beneficial.
Another currency pair worth looking at for those interested in trading AUDNZD is the GBPJPY. The Pound Sterling and Japanese Yen are both major currencies that tend to move in opposite directions, which could lead to some interesting trading opportunities.
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* The spreads provided are a reflection of the time-weighted average. Though Skilling attempts to provide competitive spreads during all trading hours, clients should note that these may vary and are susceptible to underlying market conditions. The above is provided for indicative purposes only. Clients are advised to check important news announcements on our Economic Calendar, which may result in the widening of spreads, amongst other instances.
The above spreads are applicable under normal trading conditions. Skilling has the right to amend the above spreads according to market conditions as per the 'Terms and Conditions'.
Why Trade [[data.name]]
Make the most of price fluctuations - no matter what direction the price swings and with low capital investment.