UK pound is down against the US dollar today — but what high beta currency isn’t? With all of the uncertainty surrounding Greece, China and MFGlobal, it’s really no surprise that stocks are being routed, and the pound is following suit.

However, the pound is mainly down against the US dollar and the Japanese yen as investors look for safe haven. Against other currencies, the UK pound seems to be doing all right. The pound is higher than the euro today, which isn’t much of a surprise. With Greece turning over approval of austerity measures and bailout conditions to the citizens, there are those already predicting that Greece will have to withdraw from the currency union.

Pound is also up against currencies like the Canadian dollar, which is down on global economic concerns related to China and falling commodity prices (especially oil). So, while sterling isn’t exactly in the best of positions, it is still showing more strength, and a better situation, than many other currencies — especially the euro. However, sterling could see more severe losses against the US dollar if Greece really does default; a number of British banks are heavily exposed to Greek bonds.

At 14:56 GMT, GBP/USD is down to 1.5942 from the open at 1.6080. EUR/GBP is lower at 0.8578, down from the open at 0.8619. GBP/CAD is gaining ground, heading up to 1.6173 from the open at 1.6073. GBP/JPY is lower at 124.81, down from the open at 125.72.

If you have any questions, comments or opinions regarding the Great Britain Pound, feel free to post them using the commentary form below.