Great Britain Pound GBP


Detailed information and fundamental factors

Central Bank: Bank of England

Interest Rate: 0.50%

Public Debt to GDP Ratio, 2014: 86.6%

Trade Balance, 2014: $182.6 bln.

Inflation, 2014: 1.5%

Sovereign Credit Ratings:


Supporting Factors

Global reserve currency


Currency of international trade


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

Interest Rate Expectations Help UK Pound

UK pound is heading higher today, thanks in part to expectations that a rate increase from the Bank of England could be coming by the end of 2015 or around the beginning of 2016. With growth accelerating in the United Kingdom, expectations for the pound are growing.

Pound Rises After UK Growth Accelerates

The Great Britain pound edged higher today after the release of UK economic data that showed that United Kingdom’s growth accelerated last quarter.

Great Britain Pound Vulnerable, Manages to Beat US Dollar

The Great Britain pound was somewhat vulnerable today, losing to the euro and falling versus the Japanese yen a bit. At the same time, the sterling managed to rally against the US dollar that has been in retreat during the Monday’s trading session.

Unexpected Decline of UK Retail Sales Leads to Drop of Sterling

Lately, the Great Britain pound has been struggling to continue its rally, and economic data released from the United Kingdom today did not help the matter at all. UK retail sales dropped unexpectedly last month, leading to losses of the currency against major rivals.

Great Britain Pound Firm After BoE Minutes

The Great Britain pound demonstrated solid performance today even though the minutes of the nation’s central bank policy meeting showed that UK policy makers are rather cautious in their outlook regarding the monetary policy.

Pound’s Rally Losing Steam

The Great Britain pound is struggling against other major currencies today. While the outlook for the Bank of England’s monetary policy remains very supportive for the currency, it looks like the last week’s rally is losing steam.

Great Britain Pound Holds Ground After Employment Disappoints

Today’s unemployment data from the United Kingdom was rather disappointing yet it did not hurt the Great Britain pound much. The currency held relatively well against its major counterparts, rallying versus the euro and the Japanese yen and staying flat versus the US dollar.

Sterling Leaps After Carney Talks About Higher Interest Rates

The Great Britain pound surged against its major rivals today after comments of the nation’s central bank head Mark Carney who spoke about higher interest rates. On the negative side, today’s economic data from the United Kingdom was somewhat soft.

Pound Rallies, Boosted by UK Data & Market Sentiment

The Great Britain pound rallied today, getting help both from domestic macroeconomic reports and the positive general market sentiment. The currency jumped almost 2 percent against the Japanese yen.

Pound Gains After BoE Makes Policy Announcement

The Great Britain pound edged higher against the US dollar and the Japanese yen today after the Bank of England announced that it is leaving its monetary policy unchanged. The sterling’s gains versus the greenback were limited while the rally versus the yen was rather substantial.



Follow Top Forex News on Twitter T