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Great Britain Pound GBP
Central Bank: Bank of England
Interest Rate: 0.10%
Public Debt to GDP Ratio, 2020: 108.03%
Trade Balance, 2019: -$3.1 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 Sterling pound rallied against the dollar buoyed by the UK’s COVID-19 vaccination programme’s success that has seen infection and death rates decline. The GBP/USD currency pair’s rally was also fueled by the upbeat British manufacturing data released earlier today, showing the UK’s economic recovery.
The Great Britain pound versus the Canadian dollar currency pair seems to be setting the grounds for a new rally. Any signs of the opposite?
The Sterling pound fell against the dollar fueled by the upbeat UK Q4 GDP data released in the early London market as the greenback remained largely weak. The GBP/USD currency pair also benefitted from the elevated investor risk appetite that drove riskier currencies and assets higher at the dollar’s expense.
The Great Britain pound versus the United States dollar currency pair seems to be willing to rotate towards the north. Will the bears allow it?
The Sterling pound rallied against the dollar boosted by the upbeat UK retail sales report released earlier today as investor appetite for the pound remained high. The GBP/USD currency pair’s gains were limited by worries that the EU could halt vaccine shipments to the UK, slowing down its vaccination programme and retaliatory Chinese sanctions.
The Great Britain pound versus the Canadian dollar currency pair seems to be under bearish pressure. Can the bulls do something for a change?
The British pound fell against the much stronger dollar, extending yesterday’s losses amid disappointing UK inflation figures attributed to massive discounts and lockdown measures. The GBP/USD currency pair’s decline was also driven by negative investor sentiment as markets anticipate the disruption of Britain’s vaccination drive due to supply interruptions.
The Sterling pound fell to new monthly lows against the dollar despite the release of mostly upbeat UK employment data as the dollar gained against its peers. The GBP/USD currency pair fell driven by the resurgent greenback despite US Treasury yields pulling back as investors reacted to the Fed Chair’s comments downplaying inflation concerns.
The Great Britain pound versus the United States dollar currency pair seems to be in bullish hands. Is this really so?
The Sterling pound fell against the dollar following the Bank of England’s dovish interest rate decision despite a unanimous vote to maintain the current rates. The GBP/USD currency pair’s decline was also fueled by the rising US Treasury yields, which boosted the dollar at the pound’s expense. The pair later recouped some losses.
