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

UK Pound Fights Back in Currency Trading

The last week has been a bit humiliating for the UK pound, with persistent losses against major currencies. However, there appears to be some relief in sight for the embattled pound. The currency is gaining a little bit of ground today — at least against the euro.

Economic Data Weighs on Pound

Sterling is heading lower today, dropping as the latest manufacturing growth data disappoints. The UK economy continues to struggle, and it doesn’t help much that the Bank of England has predicted slowing growth in the economy. Indeed, compared to some of its major counterparts, the slowdown is disappointing, and contributing to losses for the pound.

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.

Archives

SUBSCRIBE

Follow Top Forex News on Twitter T