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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

Sterling Soft as Markets Prepare for Brexit

Markets wait for formal initiation of the Brexit process on Wednesday. The Great Britain pound fell during the current trading session due to uncertainty associated with the Brexit, but has trimmed its losses as of now.

GBP/USD Declines After Release of Positive US Economic Data

The GBP/USD currency pair declined significantly today after the release of positive advance goods trade balance and consumer confidence data from the US docket. The currency pair was also affected by the weaker British pound as markets cautiously await the triggering of Article 50 by British PM, Theresa May.

GBP/USD Rallies Ahead of Theresa May’s Triggering of Article 50

The GBP/USD currency pair rallied higher today as markets anticipate the triggering of Article 50 on Wednesday by the UK Prime Minister, Theresa May. The British pound rallied higher boosted by the positive economic data released recently in the UK, while markets ignored the uncertainty associated with the official Brexit process.

GBP/USD Rallies After Release of Strong UK Sales Data by the ONS

The GBP/USD currency pair rallied higher today after the release of strong UK retail sales data for the month of February by the Office for National Statistics. The British pound rallied higher boosted by the positive retail sales data as opposed to the weaker US dollar as investors exercised caution towards the greenback ahead of crucial House vote.

GBP/USD Consolidates Gains Made After Release of UK CPI Data

The GBP/USD today maintained the gains made after the release of UK Consumer Price Index data for February released by the Office for National Statistics, which beat expectations. The currency pair was largely unaffected by the better-than-expected US currenct account deficit.

Great Britain Pound’s Future Hangs on Inflation Data

The Great Britain pound rallied last week, not least due to Bank of England’s policy statement that was less dovish than market participants had anticipated. But will the currency be able to maintain gains amid Brexit uncertainty and fears?

Sterling Tries to Hold onto Gains Caused by BoE Statement

The Great Britain pound was mixed during Friday’s trading session, but mostly held onto yesterday’s gains caused by the unexpectedly hawkish policy statement released by the Bank of England.

British Pound Spikes After BoE Monetary Policy Statement

The British Pound today spiked against its main competitors after the Bank of England monetary policy statement even as the bank hinted at a less dovish outlook. The British pound rallied after the BoE’s Monetary Policy Committee maintained the rate decision and its asset purchase target at the same level, but issued a slightly hawkish economic outlook.

British Pound Rallies Against US Dollar Following UK Jobless Data

The British pound rose against the US dollar and the euro on Wednesday, to partly recover from the losses it suffered after Parliament approved Theresa May’s Brexit bill. The pound got support from a jobless data release in the United Kingdom, despite the somewhat mixed picture of the labor market that the release painted.

British Pound Hits Lowest Level in Two Months as Parliament Approves Brexit Bill

The British pound weakened against major rivals on Tuesday to touch its lowest level since January, after UK lawmakers passed a bill from the British government that paves the way for Brexit. Investors now expect that UK Prime Minister Theresa May will trigger Article 50, which starts talks of exiting the European Union, later this month.

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