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.
The British Pound closed out the week dropping for a sixth day versus the Euro, its worse run since August, and had a second straight week of declines against the Greenback. This coming week, the BOE is unlikely to back away from its ultra-accommodative policy stance.