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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 Consolidates Gains Ahead of Brexit Negotiations

The GBP/USD currency pair today rallied higher briefly after the release of weak US consumer confidence data during the North American session. The currency pair did not build on the upward momentum established during yesterday’s session after the Bank of England took on a hawkish tone.

British Pound Reverses Decline Against US Dollar After BoE Rate Decision

The GBP/USD currency pair was on a downward trend due to the stronger US dollar, but rallied higher after the Bank of England announced its rate decision. The US dollar later gained slightly against the British pound after the release of positive US data such as the initial jobless claims.

British Pound Rallies Against US Dollar on Weak US Inflation Data

The GBP/USD currency pair rallied higher today during the North American session after the release of weak US Consumer Price Index data for the month of May. The currency pair started the European session on a downward trend after the release of weak UK average weekly earnings data, but quickly rallied higher after the release of the disappointing US data.

British Pound Climbs vs. Euro and US Dollar on Strong Inflation Data

The British pound moved higher versus the euro and the US dollar on Tuesday, driven by gains in UK inflation and home prices that were bigger than expected. However, negative producer prices data limited the pound’s climb today.

Pound Fails to Bounce After Post-Election Sell-Off

The Great Britain pound attempted to rally today, following Friday’s huge losses, but was unable to do so and is moving further down as of now.

British Pound Holds Losses as Mixed Data Adds to Disappointing Election Results

The British pound remained weak on Friday as the currency held to most of the losses it had yesterday. Today’s data, which was largely mixed, made the British pound incapable of finding support in economic releases at a time when politicians in the United Kingdom failed to reach unity.

Great Britain Pound Posts Heavy Losses as Hung Parliament Becomes Reality

The Great Britain pound experienced heavy losses during the Asian trading session on Friday after Britain’s snap election resulted in the worst possible outcome — a hung parliament.

Pound Logs Gains Ahead of Thursday’s Election

The Great Britain pound rose today even as markets remained cautious ahead of tomorrow’s general election, which may have a tremendous impact on the currency, and not necessarily a positive one.

GBP/USD Loses Ground to Test New Lows After Latest YouGov Poll

The GBP/USD currency pair today lost ground after the release of a new YouGov poll, which indicated that Theresa May‘s party might not get the necessary majority in the upcoming UK election. The currency pair began the day’s session on an upward trend before losing ground after the YouGov poll indicated that the Conservative Party would fall short of a majority by 22 seats.

Sterling Defies Fundamentals, Rising During Monday’s Session

Fundamentals were largely unfavorable to the Great Britain pound: uncertainty about the outcome of the upcoming general election, the slowdown of the services sector’s growth, and the terrorist attack on London. Yet all that did not prevent the currency from rising on Monday.