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Great Britain Pound GBP
Central Bank: Bank of England
Interest Rate: 0.10%
Public Debt to GDP Ratio, 2017: 90.4%
Trade Balance, 2018: -$41.3 bln.
Inflation, 2019: 1.7%
Global reserve currency
medium
Currency of international trade
weak
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.
The Great Britain pound was extremely weak today, falling against all other major currencies, even the Australian and New Zealand dollars, which were recovering after the losses they have posted earlier this week. Analysts say, though, that the gains of the Australian and New Zealand currencies were just a result of a short-covering rally, which is not likely to last long. As for the sterling, it performed poorly this week, […]
The British pound today traded sideways against the dollar alternating between losses and gains before rallying higher to post gains amid hopes for further UK stimulus measures. The GBP/USD currency pair today rallied to its daily highs after the Chancellor of the Exchequer unveiled measures to directly support British workers.
The Great Britain pound versus the Canadian dollar currency pair seems to have ceased the appreciation phase. Is this only a small correction?
The Sterling pound today fell against the US dollar as investors remained wary of the current state of post-Brexit trade talks with the rising chances of a no-deal scenario. The GBP/USD currency pair’s decline was also fueled by the increasing coronavirus cases in the UK, which saw the government impose new restrictions to curb its spread.
The Great Britain pound versus the US dollar currency pair, after the last drop, seems to be governed by the bears. Can the bulls turn the situation in their favor?
The Sterling pound today fell then rallied against the US dollar to trade at breakeven amid investor optimism that the EU and UK could sign a post-Brexit deal soon. The GBP/USD currency pair today attempted to extend its 4-day rally boosted by the upbeat UK retail sales data and the positive investor sentiment that favoured risk assets.
The Great Britain pound sank today, overtaking the New Zealand dollar as the weakest currency on the Forex market during Thursday’s trading. The sterling dropped after the monetary policy announcement from the Bank of England. While the central bank kept its policy unchanged, the wording of the statement led to the drop of the currency.
The Great Britain pound versus the Canadian dollar currency pair shifted direction. Could this be a sustainable rise?
The British pound today rallied higher against the US dollar amid optimism that the UK would not crash out of the EU after Boris Johnson toned down his rhetoric. The GBP/USD currency pair’s rally was also driven by the dollar’s selloff coupled with the upbeat UK inflation data released earlier today, which boosted the pound.
The Sterling pound today rallied higher against the US dollar driven by market optimism about progress in the development of a vaccine for the coronavirus. The GBP/USD currency pair’s rally did not last as it headed lower in the mid-London session amid market fears of a hard Brexit and a recovery by the US dollar.
