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When did the Aud become a currency?

The AUD was introduced in 1966, replacing the Australian Pound, where it was initially pegged to the US dollar. It switched to a free float in 1983 and has remained that way since. The AUD is a popular currency for forex trading pairs, and is consistently among the top 5 most traded currencies.

Are AUD and NZD correlated?

On the other hand, the AUD and NZD tend to be positively correlated. As of 2019, the Australian dollar ranked as the fifth most traded currency in the world, according to worldwide foreign exchange transactions, accounting for approximately 7% of trade.

Why is the Aud a popular currency?

The AUD, in various pairs, is one of the world’s top-traded currencies. The AUD became a free-floating currency in 1983. Its popularity among traders is due to various factors related to geology, geography, and government policy.

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Risk warning: Digital asset trading is an emerging industry with bright prospects, but it also comes with huge risks as it is a new market. The risk is especially high in leveraged trading since leverage magnifies profits and amplifies risks at the same time. Please make sure you have a thorough understanding of the industry, the leveraged trading models, and the rules of trading before opening a position. Additionally, we strongly recommend that you identify your risk tolerance and only accept the risks you are willing to take. All trading involves risks, so you must be cautious when entering the market.

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