GBP/AUD Overview: How to Trade GBP/AUD Pair

British Pounds / Australian Dollar (GBP/AUD) Profile

At some point during the reign of Henry VII in 1489, the pound coin was first made. Pound notes were first used in England in 1694, just after the Bank of England was set up. Since, and the notes were written by hand. Instead, the U.K. kept GBP as its main currency.

Australian dollars were tied to the U.S. dollar at a rate of 1 AUD = 1.12 USD in 1967, when the pound standard was abolished. The Australian dollar (AUD) was first floated on the open market in 1983. Australia's one-dollar coin and two-dollar coin were both released in 1984.

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British Pounds / Australian Dollar (GBP/AUD) Trading - FAQs

What is the best time to trade GBP/AUD

In Europe, most of the data is made public at the same time as it is in the United Kingdom. Because of this, trading European currency pairings is a great opportunity. Between 8:30 and 10:00 a.m. Eastern Time, the United States issues its latest economic data, which is when a large amount of GBP is traded.

Factors influencing the GBP/AUD

Preliminary GDP, Revised GDP, and Final GDP are the three GDP reports that are released each year. The Bank of England's monetary policies also have an impact on the value of the pound sterling (BOE).

Where Can I Find a Trusted Forex Broker to trade GBP/AUD?

When it comes to trading currencies like GBP/AUD, CFDs (contracts for difference) are one of the most popular options. There are a plethora of Forex brokers to choose from. See if you can track down one that's a good fit. When it comes to fully-licensed brokers, such as those offered by FP Markets, there are a wide range of options to choose from.