The Australian Dollar (AUD) is a widely used currency in the international financial markets. It is the sixth most traded currency globally and is a major reserve currency. It is used for a variety of purposes, including as a hedging instrument, for trading commodities and as a safe haven for investors. The AUD is also a popular currency for carry trades, which involve borrowing funds in a low-interest currency and using them to purchase higher-yielding assets, such as stocks and bonds. Additionally, the AUD is a popular currency for those investing in the Australian market, as it provides an easy way to convert between different currencies and invest in local assets.