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Great Britain Pound GBP

 

Detailed information and fundamental factors

Central Bank: Bank of England

Interest Rate: 0.75%

Public Debt to GDP Ratio, 2017: 90.4%

Trade Balance, 2017: -$166 bln.

Inflation, 2017: 2.6%

Sovereign Credit Ratings:

Fitch
AA
Negative
Moody's
Aa2
Stable
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

Sterling Gets Boost from Brexit News, Strong Retail Sales

The Great Britain pound was one of the strongest currencies today, gaining on most of its major rivals, though failing to gain on the extremely strong Australian dollar and almost erasing gains versus the New Zealand dollar. The factors supporting the currency were a reduced chance of a no-deal Brexit and a surprisingly good retail sales report.

Sterling Crashes to New 27-Month Lows on Hard Brexit Fears

The Sterling pound today fell to new 27-month lows against the US dollar as markets reacted to a poor UK jobs report and the uncertain British political environment. The GBP/USD currency pair was also adversely affected by comments from the two remaining Conservative Party candidates saying that the Irish backstop was dead.

Pound Reverses 3-Day Rally Amid Upbeat US Manufacturing Report

The British pound today fell against the US dollar reversing all of Friday’s gains amid a lack of any major releases from the UK docket. The GBP/USD currency pair fell due to the absence of catalysts to prop up the Sterling with the pair’s performance being driven largely by investor sentiment.

British Pound Extends Gains Following Carney’s Upbeat Speech

The Sterling pound today rallied higher against the US dollar following Mark Carney‘s speech at a press conference following the release of the UK’s financial stability report for July. The GBP/USD currency pair rallied higher driven by the greenback’s overall weakness as markets continue to price-in future rate cuts by the US Federal Reserve.

Pound Mixed After Slew of Economic Reports

The Great Britain pound was mixed today, falling against some rivals while rising versus others. Such behavior is not surprising, considering that Britain’s macroeconomic data released over the trading session was mixed as well. The sterling was trying to erase losses but currently is not successful.

Great Britain Pound Falls with Retail Sales

The Great Britain pound was weak on Tuesday amid risk aversion on the Forex market. Domestic macroeconomic data was not doing the sterling any favors either.

Sterling Weakest on Forex After String of Bad PMIs

The Great Britain pound was the weakest major currency on the Forex market today. The main reason for that was the string of bad PMI reports, which led to concerns that Britain’s economic growth slowed in the second quarter of 2019.

Pound Soft on Contracting Construction, Carney’s Comments

The Great Britain pound was one of the weakest currencies on the Forex market during Tuesday’s trading session. The likely reasons for that were poor domestic macroeconomic data and comments from the central bank’s chief.

Pound Falls on Weak UK Manufacturing Data and Strong US Dollar

The British pound today fell against the US dollar following the release of weak UK manufacturing data by Markit Economics failing to capitalize on Friday’s bullish attempt. The GBP/USD currency pair was under pressure from the revitalized greenback following the pause in trade hostilities announced by the US and China over the weekend.

Pound Strongest on Friday, Remains Among Weakest for the Week

The Great Britain pound was the strongest major currency today, rising against all of its most-traded rivals. While there were plenty of macroeconomic reports released in the United Kingdom during the trading session, the most likely reason for the rally was profit-taking by bears as the sterling was still one of the weakest currency during this week.

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