GBPAUD is a currency pair that represents the exchange rate between the British pound (GBP) and the Australian dollar (AUD). The pair is popular among forex traders due to the significant economic ties between the United Kingdom and Australia. The GBP is the world's fifth most traded currency, and the AUD is the fifth most traded currency in the foreign exchange market. Here's how the conversion works: For example, if the GBP to AUD exchange rate is 1.8 AUD per GBP, then it would cost 180 AUD to buy 100 GBP.
The history of the GBPAUD pair is relatively volatile, with the exchange rate ranging from 1.4 AUD per GBP in 1999 to a high of 2.9 AUD per GBP in 2013. In recent years, the pair has fluctuated between 1.6 to 1.9 AUD per GBP.
The price history of GBPAUD has been volatile, with the exchange rate ranging from a low of 1.4 AUD per GBP in 1999 to a high of 2.9 AUD per GBP in 2013. The pair experienced a significant rise in the mid-2000s as Australia's mining boom fueled the economy, leading to a strong AUD. The global financial crisis of 2008 caused the pair to drop to around 1.9 AUD per GBP, but it quickly recovered, reaching a new high in 2013.
Since then, the pair has been in a range of around 1.6 to 1.9 AUD per GBP, with fluctuations driven by economic events in both the UK and Australia, such as interest rate changes, political developments, and commodity prices. Understanding the price history of this pair can help traders make informed decisions when trading this currency pair.
Traders may choose to trade this pair due to several reasons, such as interest rate differentials, economic indicators, and geopolitical events. For example, a higher interest rate in the UK relative to Australia can make the Pound more attractive to investors, increasing demand for the currency and causing its value to appreciate against the AUD. Similarly, positive economic data from one country can lead to increased demand for its currency.
Traders may also consider other currency pairs based on their trading strategies, market analysis, and risk tolerance. Some popular currency pairs include EURUSD, USDJPY, and AUDUSD, among others. Each pair has its unique characteristics, including liquidity, volatility, and correlation with other assets, which traders should consider when choosing a pair to trade. Ultimately, traders should conduct thorough research and analysis before making any trading decisions to increase their chances of success in the forex market.
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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.