The Great Britain pound versus the Canadian dollar currency pair seems to be in a bit of a struggle, with both bulls and bears striving to gain traction.
Great Britain Pound GBP
Detailed information and fundamental factors
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%
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
Will 1.7285 on GBP/CAD Offer Support?
January 21, 2021 at 5:36 Canadian Dollar, Great Britain Pound, Technical Analysis
GBP/USD Rises Amid Higher-Than-Expected Inflation, Aggressive Vaccinations
January 20, 2021 at 14:48 Great Britain Pound
The British pound sterling rose against its major currency peers amid higher-than-expected inflation to cap off 2020 in the United Kingdom. Across the board, the cost of living was higher in December, leading to speculation that this could be the start of soaring price inflation in the aftermath of billions in fiscal and monetary stimulus and relief. But how much of an impact will this have on the pound?
Bulls Showing a Comeback from 1.3519 on GBP/USD?
January 19, 2021 at 5:55 Great Britain Pound, Technical Analysis, US Dollar
The Great Britain pound versus the United States dollar currency pair seems to be surprised by the bulls. Will they be able to steer the price for the medium term?
Pound Falls on Risk-Off Mood, Later Rallies on COVID-19 Vaccine Progress
January 18, 2021 at 19:04 Great Britain Pound
The Sterling pound today fell against the dollar amid slow trading conditions occasioned by the lack of major releases from the UK and US dockets. The GBP/USD currency pair later recovered most of its losses as the pound rallied with US markets closed for Martin Luther King Jr.’s birthday.
British Pound Falls on Weak UK Macro Reports, Despite Upbeat GDP Data
January 15, 2021 at 12:02 Great Britain Pound
The Sterling pound today fell against the dollar despite the release of the upbeat UK GDP growth monthly estimate as other key macro indicators missed expectations. The GBP/USD currency pair fell as the dollar inched higher, and UK manufacturing data painted a bleak picture of the country’s economic recovery.
Bears Target 1.7285 on GBP/CAD?
January 14, 2021 at 5:37 Canadian Dollar, Great Britain Pound, Technical Analysis
The Great Britain pound versus the Canadian dollar currency pair seems to be heading southward. But is this the start of a new depreciation, or are the bulls setting up a rally?
Pound Firms as BoE Members Comment on Negative Interest Rates
January 12, 2021 at 14:56 Great Britain Pound
The Great Britain pound rallied today, trading as the strongest major currency on the Forex market. Analysts explained the rally by comments from central bank’s officials regarding the outlook for negative interest rates.
GBP/USD Bounced off 1.3500. What Now?
January 12, 2021 at 5:30 Great Britain Pound, Technical Analysis, US Dollar
The Great Britain pound versus the United States dollar currency pair seems to be willing for another try to pass 1.3616. Is the current context favoring such a scenario?
Great Britain Pound Ends Friday Strong
January 8, 2021 at 19:40 Great Britain Pound
The Great Britain pound was one of the strongest major currencies on Friday despite plenty of negative fundamentals that were weighing on the currency. Over the week, though, the sterling kept losses versus most of its major peers.
Can the Bulls Thrust to 1.7587 on GBP/CAD?
January 7, 2021 at 5:44 Canadian Dollar, Great Britain Pound, Technical Analysis
The Great Britain pound versus the Canadian dollar currency pair seems to be under constant bearish pressure. Will the bulls hold up this time as well?