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:

Fitch
AA+
Stable
Moody's
Aa1
Stable
S&P
AAA
Negative

Supporting Factors

Global reserve currency

medium

Currency of international trade

weak

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 Ends Friday with Losses, Erasing Earlier Rally

The Great Britain pound dropped by the end of Friday’s trading following the rally earlier during the session. The rally was caused by the better-than-expected data about the UK services sector.

GBP Lower vs. USD & JPY, Higher vs. EUR After Mixed Data

The Great Britain pound edged a little lower against the US dollar and the Japanese yen but gained on the euro today after the release of macroeconomic data from the United Kingdom. The reports were mixed, providing no clear direction for the currency.

UK Pound Mostly Rangebound Today

UK pound is mostly rangebound today, thanks to a lack of new data. Additionally, a recent speech from David Cameron has many speculating about the United Kingdom’s relationship to the European Union.

Pound Steady vs. Dollar, Lower vs. Yen After Retail Sales Survey

The Great Britain pound was little changed against the US dollar and fell versus the Japanese yen today as data showed that retail sales slowed in the United Kingdom this month.

Pound Gains on Dollar Ahead of US GDP Report

The Great Britain pound gained on the US dollar and was little changed against the euro today. Moves were limited as traders waited for data from the United States and the resolution of the Greek situation.

Pound Underperforms Despite Supportive Data

The Great Britain pound fell against the US dollar and was little changed versus the Japanese yen today even though the recent economic reports from the United Kingdom were positive and should have been supportive for the currency.

UK Pound Trades Mixed Against Other Major Currencies

UK pound is trading mixed today as the focus shifts away from the sterling and attention is given to other currencies and their situations.

Sterling Leaps After Upbeat Data

The Great Britain pound leaped today after the fairly upbeat employment data from the United Kingdom. The sterling reached the strongest level since May 15 against the US dollar and the highest since September 2008 versus the Japanese yen.

Pound Higher as UK Exits Deflation

The Great Britain pound was generally higher today after the data showed that the United Kingdom exited deflation last month. Other economic reports were not as good, but that did not prevent the currency from rising.

Great Britain Pound Dips as Greek Talks Fails

The Great Britain pound dipped against the US dollar and erased its earlier gains versus the Japanese yen today as traders have flocked to safer currencies after the weekend talks between Greece and its creditors had failed.

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