Course GBP(British Pound)-AUD(Australian Dollar) for today

British Pound

The United Kingdom's central bank is the Bank of England. As the fourth most traded currency, the British Pound is the third most held reserve currency in the world. Common names for the British Pound include the Pound Sterling, Sterling, Quid, Cable, and Nicker.

• Central bank: The Bank of England
• The pound is the world’s oldest currency still in use and was the de facto global currency until WW II.
• The economy of Great Britain (or the United Kingdom) is the third largest in Europe, after Germany and France.
• Napoleon famously called the UK “a nation of shopkeepers”. Banking, insurance, and business services still account for a large proportion of the British GDP.

Australian Dollar

Importance of the Australian Dollar The central bank in Australia is called the Reserve Bank of Australia. As the 5th most traded currency in the world, the Australian dollar is also referred to as buck, dough, or the Aussie. The Australian Dollar is known as a commodity currency due to its substantial raw material exports. As a result, the AUD is affected by China and other Asian import markets. Due to its relatively high interest rates, the Australian Dollar is often used in carry trades with the Japanese Yen. A carry trade is a strategy in which a currency with low interest rate is sold in order to buy a currency with a higher interest rate.

• Central bank: The Reserve Bank of Australia
• The Australian dollar (also called the Aussie) is a “commodity currency” because the country exports abundant natural resources, including coal, iron ore, copper, gold, natural gas, uranium, and renewable energy.
• Australia has strong trade ties with China, and the growing Chinese economy has driven its economy.
• Australia is trying to diversify its export markets beyond China to other Pacific nations.