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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

Great Britain Pound Strong Ahead of Thursday’s Policy Decision

The Great Britain pound rose against its major rivals today ahead of tomorrow’s monetary policy decision. Today’s domestic macroeconomic data was positive to the currency.

Pessimistic Economic Outlook Weighs on Pound

The Great Britain pound was soft today due to the pessimistic economic outlook for the United Kingdom. Decent macroeconomic data was unable to rescue the currency.

Pound Mixed amid Clashing Fundamentals

The Great Britain pound was ending the Thursday’s trading session mixed. The sterling rose against some rivals, propelled higher by very good retail sales data, but fell versus others, dragged down by the market’s risk-negative sentiment that followed the dovish policy statement from the European Central Bank.

Sterling Pound Trades Lower on UK Inflation Data, Later Recovers

The Sterling pound today traded lower against the US dollar following the release of the UK Consumer Price Index report for May in the early European session. The GBP/USD currency pair later rallied higher from the mid-European session into the North American session as the US dollar weakened against the pound.

British Pound Rallies Higher on Mixed UK Jobs Data and Brexit Vote

The British pound today rallied higher following the release of the latest UK employment report, which had mixed results. The GBP/USD currency pair later gave up most of its gains, but rallied higher in the American session as the UK Parliament voted on a crucial Brexit bill.

British Pound Rallies Higher on Upbeat UK Services PMI Data

The British pound today rallied higher after the release of the UK Services PMI for May by IHS Markit, which beat expectations by a significant margin. The positive PMI data served to raise expectations of a rate hike by the Bank of England in the near future as the country’s GDP growth rebounds in the current quarter.

Pound Rallies on Construction Data, Loses Gains Later

The Great Britain pound started the week strong, rallying on the back of favorable construction data. Yet by now, the currency has lost gains versus most of its major peers.

Sterling Gets Boost from Britain’s Improving Manufacturing

The Great Britain pound dipped at the start of the current trading session but halted its decline later and attempted to rally. The currency got additional boost from the better-than-expected manufacturing report.

Pound Shows Weakness Despite Supportive Domestic Data

The Great Britain pound attempted to rally today but failed. Currently, the sterling trades at the opening level against some rivals and fell far below it versus others. Thursday’s macroeconomic data was generally positive, but that did not help the currency.

British Pound Trades Lower Despite In Line UK GDP Data

The British pound today declined against the US dollar despite the release of the second estimate UK GDP data for Q1 2018, which met expectations. The Sterling pound was on a downtrend against the greenback from the Asian session, but rallied slightly following the GDP report before heading lower.

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