While Australia is lower in numbers of population and export value compared to other top currencies in the foreign exchange market, its currency ranks as one of the five most traded foreign currencies in the market. As an independent and free-floating currency since 1983, the Australian dollar is the official currency of Australia, which makes determining the Australian Dollar forecast essential to world investors.
Being the 13th largest economy in terms of the gross domestic product has not prevented the Australian dollar from being a currency in high demand. When deciphering the Australian Dollar forecast, the reasons why Australia’s currency has produced more value than other countries with larger populations include:

The rich geology of Australia has given the country a wealth of popular natural resources in high demand including oil, gold, iron ore, coal, and agricultural products.

Australia’s close location to growing Asian markets has made it a preferred trading partner with Australia’s vast natural resources vital to the development of Asia markets.

A consistent government and monetary policy to keep interest rates high has helped transform the Australian dollar into a currency known for stability.

With high-interest rates that have helped control and stem any inflation, the consistent value of the Australian dollar makes it a highly sought-after currency.

As the second wealthiest country behind Switzerland in terms of wealth per adult, Australia has numerous commodities and geographical strength to make it a popular currency to foreign traders. Despite the Australian dollar’s high demand and consistent value, perfecting the Australian Dollar forecast by trading for the foreign currency still requires expertise and innovative trading techniques to successfully navigate the trading market.

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