The Great Britain pound was soft today as Britain’s manufacturing and industrial production failed to meet analysts’ expectations.
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
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.
The Great Britain pound dropped against its major rivals today as the manufacturing index dropped unexpectedly, showing contraction of the sector.
The Great Britain pound erased its earlier rally against the US dollar and actually fell versus the Japanese yen. While poor retail sales data might have some negative impact on the currency, the main perpetrator in the sterling’s fall was the meeting of the European Central Bank.
The Great Britain pound fell against the US dollar today after the release of worse-than-expected employment data. The fall was limited, though, and the currency managed to hold its ground against other majors, like the euro and the Japanese yen.
UK pound is losing ground again after recent gains. Sterling is heading mostly lower against its major counterparts as excitement over recent inflation data fades and as the EU referendum once again dominates the spotlight.
Once again, the Bank of England has left rates steady, near record lows. The latest release of minutes indicates that there are still headwinds for the UK economy, and the MPC members are concerned about the possibility of an exit from the European Union (known as the Brexit). The result is a lower sterling, pretty much across the board.
The Great Britain pound rose after the release of a positive inflation report from the United Kingdom today. Currently, the sterling struggles to maintain gains, backing off against its major rivals and even falling back to the opening level against the US dollar.