The Great Britain pound fell against some of its major rivals, including the euro, but was steady against the US dollar during the current trading session. Economic data released from the United Kingdom today was not particularly supportive to the currency.
Great Britain Pound GBP
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
The Great Britain pound climbed against its most-traded peers during the Tuesday’s trading session after comments from Mark Carney, Bank of England Governor, and Brexit polls.
The Great Britain pound fell today, following the sharp drop on Friday, as market participants continued to speculate whether the United Kingdom is going to remain in the European Union.
The Great Britain pound fell against the US dollar and the euro today due to signs that the Bank of England may decide to ease its monetary policy.
The Great Britain pound was very strong today, gaining on it major rivals, even the US dollar that itself was also firm. The reason for the amazing performance was the employment report and the Brexit polls.
UK pound is heading higher today, in spite of weaker than expected inflation data. Sterling is higher against most of its counterparts. Some of the gains are the result of the popularity of a Brexit from the European Union falling a little bit. However, there are enough weaknesses right now that the sterling’s gains might be short-lived.
The Great Britain pound was soft today as Britain’s manufacturing and industrial production failed to meet analysts’ expectations.
UK pound is seeing an advantage today, heading higher against its major counterparts. For the most part, however, gains by the sterling are more about other currencies’ weaknesses than the pound’s strength. There is still plenty of uncertainty to go around with regard to the UK pound.
Great Britain’s economic data provided yet another disappointing reading, this time for the services sector, making the pound fall against the US dollar today. The sterling fared better against other majors, actually rising against the euro.
The Great Britain pound traded little changed against the US dollar and the Japanese yen as yet another Purchasing Managers’ Index came out below expectations.