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

Positive Economic Data Does Not Support Sterling

Macroeconomic data from Great Britain was positive today, but this did not help the pound. The currency was flat against some of its major counterparts, including the euro and the Japanese yen, and dropped versus the US dollar.

UK Retail Sales Disappoint FX Market, GBP Retains Weakness

The Great Britain pound retained its weakness against the US dollar today, following yesterday’s losses and touching the lowest level in a month. Against the Japanese yen, the sterling continued to trade sideways.

BOE Minutes Weigh on UK Pound

UK pound is down pretty much across the board today, thanks in large part to the release of the minutes from the latest Bank of England meeting. It looks as though loose monetary policy is going to continue for a little while longer, and that is keeping the sterling down against its major counterparts.

Britain’s Sterling Shows Resilience Despite Negative Data

The Great Britain pound showed resilience despite negative domestic data. The currency held steady today after a small drop against the US dollar and the euro yesterday. The sterling even managed to rise against the Japanese yen.

UK Pound Pauses After Gains Earlier This Week

UK pound is pausing today, looking for consolidation at the end of this week after solid gains driven by encouraging economic data. More strength is expected for the sterling going forward, especially against the euro, thanks to the improving economic picture. So while the pound is lower today, it is likely to strengthen in coming weeks.

EUR/GBP Little Changed After Reaching Lowest Since 2012

The Great Britain pound was little changed today after reaching the highest level since August 2012 against the euro yesterday. The sterling was flat against the US dollar and retreated a bit versus the Japanese yen.

Fading Growth Momentum Makes Britain’s Currency Less Appealing

The Great Britain pound slid against most of its major peers today as Forex market participants are becoming increasingly concerned that growth momentum of the UK economy is waning, making the sterling less attractive as an investment vehicle.

Pound Under Pressure as UK Recovery Wanes

Poor economic data was weighing on the Great Britain pound recently, and today’s trading session was not different. Housing and trade data came out worse than was expected, suggesting the Britain’s recovery is losing steam. The Bank of England remained passive at today’s policy meeting.

Pound Stays Strong, Endangering UK Economy

The Great Britain pound fell at the first half of today’s trading session as another set of poor economic indicators was released. Yet the currency managed to bounce in the second half, trimming its losses against the euro and gaining on the US dollar and the Japanese yen.

Unexpectedly Poor Data Makes GBP Soft, Currency Shows Resilience

The Great Britain pound turned down today as economic indicators came out much worse than was expected, prompting the British Chamber of Commerce to talk about necessity for the Monetary Policy Committee to delay interest rate increases. The currency recovered against some of its peers, including the US dollar and the euro, but remained soft versus the Japanese yen.

Archives

SUBSCRIBE

Follow Top Forex News on Google+ G+