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Great Britain Pound GBP

 

Detailed information and fundamental factors

Central Bank: Bank of England

Public Debt to GDP Ratio, 2015: 90.6%

Trade Balance, 2015: -$175.1 bln.

Inflation, 2015: 0.1%

Sovereign Credit Ratings:

Fitch
AA
Negative
Moody's
Aa1
Negative
S&P
AA
Negative

Supporting Factors

Global reserve currency

medium

Currency of international trade

weak

The Great Britain pound sterling (usually called simply “pound” or “sterling”) is the currency used in the United Kingdom and in British territories. Banknotes were introduced following the creation of the Bank of England in 1694, but the history of the currency can be traced long before that, making the pound the oldest world currency that is still in use. The sterling was the most important currency in the world before the World War I. After the World War II had broken out, several countries (for the most part those that belonged to the British Empire) either introduced the pound as their own currency, or pegged their currencies to the sterling. These countries have become know as the sterling area. The importance of the UK currency and the sterling was diminished after the pound was allowed to float freely in 1972. Subsequently, the role of the major world medium of exchange passed to the US dollar. It is still the fourth most traded currency after the dollar, the euro and the yen. The pound is also used as a reserve currency.



Great Britain Pound News Archive

Pound Firm During Tuesday’s Trading

The Great Britain pound was relatively firm during the Tuesday’s trading session. Analysts offer various explanations for the currency’s good performance.

Pound Ends Friday with Losses

The Great Britain pound ended Friday with losses amid speculations that the United Kingdom may start the process of leaving the European Union in the first half of 2017, ahead of the important elections in Germany and France.

Pound Rises with Strong Retail Sales

The Great Britain pound gained today with the help of surprisingly strong retail sales. It was just another evidence that the Brexit had no impact on Britain’s economy, at least not yet.

Pound Jumps with Improving Economic Indicators

The Great Britain pound jumped today as macroeconomic data released from the United Kingdom suggested that the impact of the Brexit had not yet hit the nation’s economy.

Pound Drops for Fifth Day Against Dollar

The Great Britain pound fell for the fifth straight trading session against the US dollar and also dropped against other major rivals even though some of the macroeconomic reports released today were good.

Pound Suffers Weekly Losses as BoE Implements QE

The Great Britain pound dropped during the past trading week as the Bank of England moved forward with monetary stimulus, introducing substantial easing measures in hopes to help Britain’s economy to weather the impact of the Brexit.

Sterling Recovers Following Plunge on BoE Stimulus

The Great Britain pound is recovering today after yesterday’s drop that followed the announcement of additional stimulus package from the Bank of England.

Pound Down as BoE Steps in with Expanded Stimulus

The Great Britain pound dropped today after the Bank of England cut its interest rates, expanded its stimulus program, and lowered the growth forecast.

Great Britain Pound Near Opening After Poor Services PMI

The Great Britain pound was falling today and continued to decline after the poor report about the UK services sector. Yet now the currency has reversed its movement and trades close to the opening level.

Pound Goes Down as UK Manufacturing PMI Revised Lower

The Great Britain pound moved lower against its major rivals during Monday’s trading as the nation’s manufacturing sector contracted in July even more than had been previously estimated.

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