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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

Pound Starts Week Mixed as Traders Wait for Carney

The Great Britain retreated versus the euro today after six consecutive sessions of gains. The currency remained stable against the US dollar and continued to rally versus the Japanese yen.

Amazing Performance of Pound Caused by Interest Hike Speculations

The Great Britain pound surged during the past trading week, propelled by interest rate hike speculations. Meanwhile, safe currencies found little demand as risk appetite came to the market.

GBP/USD Rallies to New Highs on BoE’s Vlieghe Hawkish Comments

The GBP/USD currency pair today rallied to new highs following hawkish comments by the Bank of England‘s MPC member Gertjan Vlieghe. The policy-maker’s comments were taken from his early morning speech on ‘real interest rates and risks‘ and published by Reuters.

British Pound Jumps as Policymakers Signal Interest Rate Hike

The British pound jumped against its major counterparts on Thursday after UK policymakers hinted that interest rates may be raised relatively soon.

Mixed Employment Data Leaves Sterling Without Direction

The Great Britain pound demonstrated mixed performance today, rising against some majors, while falling versus others. That could be explained by the Wednesday’s release of employment data, which had both good and bad parts.

British Pound Rallies Against US Dollar on Positive UK Inflation Data

The British pound today rallied to new yearly highs against the US dollar after the release of headline UK inflation data, which beat expectations, early in the European session. The stronger US dollar, as tracked by the US Dollar Index, could not derail the pound’s strong rally even as US treasury yields rallied higher.

GBP/USD Rallies to New Monthly Highs on Positive UK Data

The GBP/USD currency pair today rallied to new highs after the release of positive UK industrial production data by the Office for National Statistics early in the European session. The selling tone around the US dollar also contributed to the currency pair’s rally even as the US Dollar Index hit yearly lows earlier today.

Pound Gains on Vulnerable Dollar, Falls Against Other Rivals

The GBP/USD currency pair (also know as the Cable) rallied today on the back of the US dollar’s weakness. The Great Britain pound fell against other currencies, though. In fact, there were speculations that the sterling may reach parity with the euro.

British Pound Rallies Against US Dollar Despite Weak UK PMI Data

The British pound today rallied to new highs against the US dollar despite the release of weak Markit/CIPS UK services PMI data. The cable rallied much higher after the release of disappointing US durable goods orders early in the North American session.

Pound Remains Vulnerable to Adverse Fundamentals

The Great Britain pound was vulnerable today amid the cautious market sentiment, persisting uncertainty surrounding the Brexit, and poor economic data.

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