The Great Britain pound weakened against its major rivals during the past trading week as fears of the Brexit reemerged. The weakness spilled over to the euro, which would also suffer in case the United Kingdom exits 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
Even though the UK trade deficit improved for April, sterling isn’t seeing a huge improvement against some of its major counterparts. While the UK pound is gaining ground against the euro, it is faltering against the dollar and the yen. Right now, everything is about the upcoming EU membership referendum and economic data is getting lost in the shuffle.
UK pound is swinging wildly today, partly due to a suspected fat-finger trade, and partly due to the speculation accompanying the possibility of a Brexit from the European Union. There is a lot of uncertainty right now, and sterling has been moving between gains and losses the last couple of days.
UK pound is crashing as renewed fears of a Brexit from the European Union surface. Positive economic data is being ignored as Forex traders evaluate what would happen if the United Kingdom left the European Union.
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.
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.