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Great Britain Pound GBP

 

Detailed information and fundamental factors

Central Bank: Bank of England

Public Debt to GDP Ratio, 2016: 92.2%

Trade Balance, 2016: -$169.5 bln.

Inflation, 2016: 0.5%

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

British Pound Rallies Against US Dollar on Positive GDP Data

The British pound today rallied higher against the US dollar after the release of preliminary UK GDP data for the second quarter, which met expectations. The British pound initially dropped after the GDP announcement before gaining traction and rallying higher against the US dollar after British finance minister Philip Hammond‘s comments on Brexit.

Great Britain Pound Rallies, Ignores IMF Downgrade

The Great Britain pound gained against its most-traded rivals during the current trading session, rising for the first time after five consecutive sessions of losses versus the Swiss franc and the Japanese yen, even though the International Monetary Fund revised its growth outlook for the United Kingdom.

British Pound Declines Against Peers Despite Positive Retail Sales Data

The British pound today declined against the US dollar and the euro despite the release of positive UK retail sales data. The British pound rallied higher for a minute or so after the release before retracing all its gains and trending lower.

Pound Falls for Third Consecutive Session, Avoids Losses vs. Euro

The Great Britain pound fell today, declining for the third day in a row against its major rivals. The euro was an exception as the sell-off ahead of the policy announcement from the European Central Bank made the shared 19-nation currency even weaker than the currency of the United Kingdom.

British Pound Drops Against US Dollar on Weak Inflation Data

The British pound today dropped sharply against the US dollar after the release of weak inflation figures by the Office for National Statistics. The major decline in the sterling highlighted the fact that that the currency was extremely susceptible to monetary policy speculation.  The weak inflation figures also signaled that a rate hike by the Bank of England might not be forthcoming this year.

GBP/USD Touches Highest Since September

The Great Britain pound rallied to the highest level since September against the US dollar during the Friday’s trading session. The currency also logged solid gains against other most-traded rivals.

Pound Higher After UK Employment Report

The Great Britain pound rallied today following the release of an employment report that was positive for the most part. In particular, the unemployment rate fell to the lowest level in 42 years.

British Pound Weakens Against US Dollar After Disappointing Week

The British pound today weakened against the US dollar during the early North American session as the greenback opened strongly against most of its peers. The British pound was on a downward trend during the late Asian session and early European session, before retracing some of its loses during the mid-European session.

Pound Slides as Trend of Disappointing UK Economic Releases Continues

The Great Britain pound dropped today as macroeconomic indicators released in the United Kingdom continued to disappoint.

Great Britain Pound Steady, Undeterred by Poor Economic Data

The Great Britain pound was steady today as the recent bout of poor macroeconomic releases did not deter investors from the currency.

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