The Great Britain pound ended trading lower against its major peers, being dragged down by comments from British Foreign Secretary Boris Johnson, who signaled that the process of Britain’s exit from the European Union may start earlier than it was previously anticipated.
Great Britain Pound GBP
Central Bank: Bank of England
Public Debt to GDP Ratio, 2015: 90.6%
Trade Balance, 2015: -$175.1 bln.
Inflation, 2015: 0.1%
Global reserve currency
Currency of international trade
Factors of Weakness
United Kingdom's exit from the European Union
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 fell today, heading to the worst week in five. Apparently, Brexit fears have returned to the market, driving speculators away from the currency.
The Great Britain pound fell today (though the drop was limited) after the Bank of England left its monetary policy unchanged but signaled that additional stimulus remains a possibility.
The Great Britain pound slipped against its major rivals as inflation data disappointed market participants, failing to reach the levels predicted by experts. Losses were limited though.
There is a busy week ahead for the Great Britain pound. There will be plenty of economic releases from the United Kingdom, but the most important event should the monetary policy meeting conducted by the Bank of England.
UK pound is holding on to recent gains, hoping to see a better performance going forward. However, there are factors that could lead to more weakness. For now, though, the sterling seems to be weathering the Brexit reasonably well.
The Great Britain pound was steady today following the release of economic indicators over the Friday’s trading session.
The Great Britain pound rallied against the US dollar for the fourth straight trading session, reaching the highest level in month and a half, after the UK services sector demonstrated a strong bounce last month. The currency was mostly higher against other majors as well but fell versus the Japanese yen, ending its four-day streak of gains.
Today, yet another macroeconomic indicator added to evidences of an improving economy in the United Kingdom. Unlike yesterday though, the Great Britain pound demonstrated anemic reaction to positive news.