The GBP/AUD currency pair is heavily influenced by the correlation of two major global economies: the United Kingdom and Australia. Placed in the experienced hands, the GBP/AUD pair could be an ideal move-away from the four majors, and a useful tool to the trader’s portfolio diversification.
Obviously, the GBP/AUD currency pair is controversial and difficult to analyze. On the one hand is the Great Britain leaving the EU. On the other hand is the continent of Australia, whose economy with the ups and downs is heavily dependent on the natural materials and weather changes. Food exports, as well as energy, raw materials and minerals bring a significant part of the Australia's income: it plays a significant role in the country's economy, and AUD is considered as a commodity currency.
The significant difference in the interest rates of The Bank of England and The Bank of Australia (0.25% and 1.5%) allows to use this currency pair for trading with a carry-trade strategy.
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