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Great Britain Pound GBP

 

Detailed information and fundamental factors

Central Bank: Bank of England

Public Debt to GDP Ratio, 2015: 90.6%

Trade Balance, 2015: -$175.1 bln.

Inflation, 2015: 0.1%

Sovereign Credit Ratings:

Fitch
AA
Negative
Moody's
Aa1
Negative
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

Pound Rises on Interest Rate Hike Speculations

The Great Britain pound rose today as hawkish comments from policy makers led to speculations about interest rate hikes from the Bank of England in the foreseeable future.

British Pound Steadies, Shows Little Reaction to Positive Manufacturing Data

The British pound traded within a tight range against the euro and the US dollar on Thursday after erasing some of the gain it posted on Wednesday. Comments made by an official from the Bank of England pushed the British currency higher yesterday, despite lingering concerns about ongoing Brexit negotiations with the European Union.

British Pound Rallies Against US Dollar After Queen Elizabeth’s Speech

The GBP/USD currency pair rallied higher today after Queen Elizabeth‘s speech at the Mansion House during the opening of the UK parliament. The currency pair was also boosted by comments from the Bank of England‘s Chief Economist, Andrew Haldane, who outlined a hawkish view regarding future rate hikes.

GBP/USD Tumbles to New Lows After Dovish Comments from Mark Carney

The GBP/USD currency pair today tumbled to new lows last witnessed in April due to dovish comments from Bank of England Governor, Mark Carney. The currency pair hit the new lows during the North American session after hawkish comments from FOMC members such as Eric Rosengren.

British Pound Retreats Against Major Counterparts as Brexit Talks Start

The British pound declined against most of other major currencies on Monday to begin the week on a negative note following the commencement of the Brexit negotiations. The British currency came under more pressure versus the US dollar after a Federal Reserve official offered a hawkish outlook for US interest rates.

GBP/USD Consolidates Gains Ahead of Brexit Negotiations

The GBP/USD currency pair today rallied higher briefly after the release of weak US consumer confidence data during the North American session. The currency pair did not build on the upward momentum established during yesterday’s session after the Bank of England took on a hawkish tone.

British Pound Reverses Decline Against US Dollar After BoE Rate Decision

The GBP/USD currency pair was on a downward trend due to the stronger US dollar, but rallied higher after the Bank of England announced its rate decision. The US dollar later gained slightly against the British pound after the release of positive US data such as the initial jobless claims.

British Pound Rallies Against US Dollar on Weak US Inflation Data

The GBP/USD currency pair rallied higher today during the North American session after the release of weak US Consumer Price Index data for the month of May. The currency pair started the European session on a downward trend after the release of weak UK average weekly earnings data, but quickly rallied higher after the release of the disappointing US data.

British Pound Climbs vs. Euro and US Dollar on Strong Inflation Data

The British pound moved higher versus the euro and the US dollar on Tuesday, driven by gains in UK inflation and home prices that were bigger than expected. However, negative producer prices data limited the pound’s climb today.

Pound Fails to Bounce After Post-Election Sell-Off

The Great Britain pound attempted to rally today, following Friday’s huge losses, but was unable to do so and is moving further down as of now.

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