The Great Britain pound slumped today, falling to the lowest level since 1985 against the US dollar, as Brexit fears continued to drive the currency. Yet again, positive macroeconomic data was unable to rescue the sterling.
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
The Great Britain pound was soft today after UK Prime Minister Theresa May announced date for the start of the Brexit. The news hit Britain’s currency, and even positive macroeconomic data released on Monday was unable to help the sterling.
The Great Britain pound fell against some of its rivals today, continuing to experience pressure from stimulus expectations. The currency managed to beat the Japanese yen, though, as risk appetite made investors less interested in safe currencies.
The Great Britain pound slipped against the US dollar and the euro today as Bank of England Deputy Governor Minouche Shafik was talking about possibility of additional stimulus as soon as November.
The Great Britain pound was soft against some of the majors (though stayed flat versus the US dollar) as Brexit fears were returning to the market.
The Great Britain pound ended trading lower against its major peers, being dragged down by comments from British Foreign Secretary Boris Johnson, who signaled that the process of Britain’s exit from the European Union may start earlier than it was previously anticipated.
The Great Britain pound fell today, heading to the worst week in five. Apparently, Brexit fears have returned to the market, driving speculators away from the currency.
The Great Britain pound fell today (though the drop was limited) after the Bank of England left its monetary policy unchanged but signaled that additional stimulus remains a possibility.
The Great Britain pound slipped against its major rivals as inflation data disappointed market participants, failing to reach the levels predicted by experts. Losses were limited though.
There is a busy week ahead for the Great Britain pound. There will be plenty of economic releases from the United Kingdom, but the most important event should the monetary policy meeting conducted by the Bank of England.