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Great Britain Pound GBP

 

Detailed information and fundamental factors

Central Bank: Bank of England

Public Debt to GDP Ratio, 2016: 92.2%

Trade Balance, 2016: -$169.5 bln.

Inflation, 2016: 0.5%

Sovereign Credit Ratings:

Fitch
AA
Negative
Moody's
Aa2
Stable
S&P
AA
Negative

Supporting Factors

Global reserve currency

medium

Currency of international trade

weak

Factors of Weakness

United Kingdom's exit from the European Union

strong

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

British Pound Declines Against US Dollar on Strong Housing Data

The British pound today declined against the US dollar after the release of positive US housing starts and building permits data. The GBP/USD currency pair reversed all its earlier gains made during the early European session after an initial decline triggered by uncertainties regarding the ongoing Brexit negotiations.

British Pound Declines Against US Dollar on UK Labour Report

The British pound today briefly rallied higher against the US dollar after the release of the UK employment data by the Office for National Statistics, which beat expectations. However, the rally was short-lived as the GBP/USD currency pair retraced all its gains within the same hour as markets reviewed the labor report.

GBP/USD Tumbles to New Lows on Soft UK CPI Data

The GBP/USD currency pair today tumbled to new lows after the release of soft UK CPI data by the Office for National Statistics early in the European session. Today’s decline extends the pound’s drop for the second consecutive session this weak after yesterday’s massive drop occasioned by news of a leadership crisis in the UK.

Pound Slides as Theresa May Faces Fresh Challenges to Leadership

The Great Britain pound fell today, losing 100 pips against the US dollar intraday. The sterling’s performance against other majors was no better. The main reason for the drop was political turmoil in Britain.

GBP/USD Trades Higher on Upbeat UK Trade Balance Data

The GBP/USD currency pair today rallied slightly higher after the release of upbeat UK trade balance data by the Office for National Statistics. The pair opened the European session trading in negative territory, which was quickly reversed after the release of the positive UK manufacturing data.

British Pound Gives up Early Gains as Political Troubles Linger

The British pound gave up some of its early gains against the US dollar and the euro on Thursday as investors remained concerned about the political stability of the British cabinet. Economic data in the United Kingdom added to the pressure on the British currency as home prices rose less than what analysts had previously expected.

Pound Ignores Carney’s Pessimistic Comments

The Great Britain pound rose today even though Bank of England Governor Mark Carney made pessimistic comments about the future of the UK economy on Sunday.

Britain’s Services Sector Shows Strong Growth, Pound Halts Slump

The Great Britain pound was stable today following yesterday’s steep sell-off. The currency got some support from the solid performance of Britain’s services sector.

Pound Crashes After Dovish Hike by BoE

The Bank of England hiked its main interest rate for the first time in a decade as was widely expected, but markets considered the hike to be a dovish one. The Great Britain pound crashed as a result, falling more than 1% against its most-traded peers.

British Pound Erases Early Gains Despite Highest Manufacturing Activity in Two Months

The British pound erased earlier gains against the US dollar and other major peers on Wednesday, despite the best reading for manufacturing activity since September. A separate report on housing prices in the United Kingdom revealed a healthy increase, however, the British currency failed to maintain its gains.

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