This pair denotes how many Australian Dollars are needed to purchase one British Pound. Often, the Australian Dollar is referred to as a risk currency due to its relatively higher interest rates and correlation to global equity markets. The British Pound depreciated relative to the Australian Dollar after 2008 and only began making a significant rebound in 2013 in light of declining growth in China and a slowdown in the global commodity supercycle, which has hurt Australia's largest sector, mining.
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Weekly British Pound and Australian Dollar Trading Forecast
|GBP/USD to Break Out on Less-Dovish BoE, Weak U.S. 3Q GDP||neutral|
|AUD To Look Past Local Data Yet Remains At Risk On Elevated Volatility||bearish|