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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

GBP/USD Tumbles to New Lows on Positive US Housing Data

The GBP/USD currency pair today tumbled to new session lows after the release of positive US housing starts data for November. The currency pair was on a downtrend for most of the European session given the empty UK economic docket.

GBP/USD Trades Sideways on Brexit Jitters and US Data

The GBP/USD currency pair today traded in a sideways range during the early European session given the empty UK economic docket. Much of the currency pair’s movement was in reaction to news concerning Brexit negotiations and yesterday’s US macro data.

Pound Rallies on UK Retail Sales and Declines on BoE Decision

The British pound today rallied higher against the US dollar after the release of upbeat UK retail sales data for the month of November. The pound declined significantly from its daily highs after the Bank of England kept interest rates at their current levels as was expected.

Pound Retreats from Daily Highs on Weak UK Labor Market Report

The British pound today retreated from daily highs set against the US dollar earlier in the European session after the release of the UK labour market report for December. The pound’s decline against the US dollar was triggered by the jobless claims count, which posted a surprising increase in November.

Pound Continues to Move Lower Ahead of Busy Week

The Great Britain pound continued to drop today, extending the Friday’s decline, as traders remained cautious ahead of the busy week.

British Pound Hits New Lows on Brexit Deal and Positive NFP Data

The British pound today hit news lows despite news of a Brexit deal between the EU and the UK allowing for trade talks to begin. The pound headed much lower after the release of positive US non-farm payrolls data in the early American session.

Pound Slides as Concerns About Brexit Negotiations Grow

The Great Britain pound slumped today amid concerns about obstacles in the Brexit negotiations between the United Kingdom and the European Union.

Sterling Slides as Brexit Talks Encounter Another Roadblock

The Great Britain pound dropped today after the Brexit talks planned for yesterday failed to yield a result, collapsing at the last minute. The fact that growth of Britain’s services sector slowed more than was expected did not help the currency either.

Great Britain Pound Propelled Higher by Hopes for Brexit Deal

The Great Britain rallied today amid signs that Britain and the European Union continued to make progress in their Brexit negotiations.

British Pound Rises to Highest Level in Two Months on Strong Housing Market

The British pound rose to the highest level against the US dollar in more than two months on Thursday, as home prices rose more than expected in the United Kingdom. The British currency also touched its best level against the euro in a month following disappointing inflation data in the European Union.

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