The Great Britain pound continued to consolidate, trading mostly flat today, as market participants continued to speculate about the impact of the Brexit and chances for additional monetary easing from the Bank of England.
Great Britain Pound GBP
Central Bank: Bank of England
Public Debt to GDP Ratio, 2015: 90.6%
Trade Balance, 2015: -$175.1 bln.
Inflation, 2015: 0.1%
Global reserve currency
Currency of international trade
Factors of Weakness
United Kingdom's exit from the European Union
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
The Great Britain pound was little changed today as traders are waiting for GDP data from the United Kingdom which will be released later this week.
The Great Britain pound slipped against its most-traded peers, including the US dollar and the Japanese yen, on Friday as fear of the so-called “hard Brexit” continued to plague markets.
The Great Britain pound was little changed today as the employment report released from the United Kingdom during the current trading session was mixed, giving the currency no compelling reason to go either up or down.
The British pound rose to new highs today rallying against other currencies such as the US dollar for the second day in a row. The British pound gained against other major currencies such as the US dollar and the euro after the release of UK inflation data for the month of September. The rally was triggered by the release of inflation figures today, which were higher than what analysts had forecasted. The inflation data showed that consumer prices […]
The Friday’s flash crash of the Great Britain pound did not result in panic sell-off as some might have expected, but the currency remained on the path of steady decline.
The Great Britain pound demonstrated a flash crash to a new 31-year low today only to recover very quickly. There were different theories about possible reasons for such behavior.
The Great Britain pound sank today, reaching a new 31-year low, as fears of Brexit continued to plague the currency. Coupled with the extremely loose central bank’s monetary policy, that makes the currency completely unattractive to traders (with the possible exceptions of bottom pickers).
The Great Britain pound slumped today, falling to the lowest level since 1985 against the US dollar, as Brexit fears continued to drive the currency. Yet again, positive macroeconomic data was unable to rescue the sterling.
The Great Britain pound was soft today after UK Prime Minister Theresa May announced date for the start of the Brexit. The news hit Britain’s currency, and even positive macroeconomic data released on Monday was unable to help the sterling.