The Great Britain pound gained today, reaching the highest level since September, despite underwhelming economic data released from the United Kingdom today.
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 the strongest major currency this week as UK Prime Minister Theresa May surprised markets, announcing a snap general election.
The Great Britain pound fell today after the release of disappointing retail sales data for March.
The GBP/USD currency pair today maintained the significant gains made after the announcement of snap elections by British Prime Minister Theresa May. The results of a poll conducted by YouGov on behalf of the Times Newspaper indicated that support for the ruling Conservative Party was at a nine-year high.
The Great Britain pound was in a consolidation mode today following yesterday’s rally caused by the surprise announcement of a snap general election in Britain this year. The sterling traded flat for the most part against its major peers, though rose a bit against some of them, including the Japanese yen.
The Great Britain pound jumped today after Britain’s Prime Minister Theresa May made a surprise announcement that general elections will happen in June.
The Great Britain pound was little changed during the slow holiday trading after falling against the dollar and rising versus the euro yesterday.
The Great Britain pound traded basically flat today after the release of employment data. The report was mixed, giving the currency no help in finding a direction to move.
The Great Britain pound was steady on Tuesday, the same as some other currencies (like the Australian dollar). Britain’s economic reports were mixed, giving the currency no reason to go one way or the other.
The Great Britain pound bounced from its recent lows on Monday as traders were waiting for inflation data that may prompt the Bank of England to start monetary tightening sooner.