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

Economic Data Helps Pound Against Euro

The pound may be retreating a bit against some of its counterparts, but sterling is seeing solid support against the euro today. Thanks to the latest round of economic data, pound is gaining against the euro, even though it is down against currencies like the yen and the dollar.

GBP/USD Reaches Highest Since 2008 on Construction PMI

The Great Britain pound advanced today with help of an unexpectedly positive construction report. The sterling retreated to the opening level against the US dollar as of now but only after reaching the highest level since October 2008 against the US currency.

BoE Mortgage Limits Do Not Threaten UK Economy, GBP Gains

The Great Britain pound gained today as experts speculated that the measures, introduced by the central bank to reduce the number of riskier mortgages, will not derail economic recovery of the United Kingdom.

GBP Flat, Retains Downside Bias on High Street Sales

The Great Britain pound was little changed today. The currency is likely to retain its downside bias after the central bank’s chief shocked the market, suggesting that monetary tightening is not going to happen soon, and UK economic data was not supportive for the sterling.

Pound Drops, Driven by Dovish Comments from Carney

The Great Britain pound dropped today against the majority of most-traded currencies as UK policy makers tempered bets on interest rate hikes in near future by their dovish comments. Market participants, who have thought that central bank will tighten monetary policy soon, were unprepared for this.

UK Pound Slips Against US Dollar

UK pound has slipped against the US dollar, even after a stronger week that saw sterling reach highs not seen in five years. Since the end of a strong week, the pound is down against the dollar to start a new week. It is also down against the yen, and even slightly lower against the euro.

BoE Interest Rate Outlook Overshadows UK Economic Data

The Great Britain pound advanced today, rising to the highest level since October 2008 against the US dollar, bolstered by speculations that the Bank of England will raise interest rates sooner than was expected. The interest rate outlook offset the negative impact of today’s economic data on the currency.

GBP Falls vs. USD on Disappointing CPI, Holds Ground vs. JPY

The Great Britain pound fell against the US dollar today as UK inflation slowed last month, missing analysts’ expectations. The currency managed to trim its losses and was able to gain on the Japanese yen.

Pound Backs Off After Reaching Multi-Year Highs

The Great Britain pound fell against the US dollar and rose versus the Japanese yen at the current trading session, reversing its Monday’s movement. The sterling also continued to fall versus the euro. This does not necessarily mean that the UK currency lost its bullish momentum as it reached multi-year highs at the previous trading session.

Second Week of Gains for Sterling with Help of Employment & BoE

The Great Britain pound was the second-best performer on the Forex market this week after the New Zealand dollar. It was the second week of gains for the sterling. The UK currency was gaining on the euro for eight consecutive sessions — the longest stretch of gains since April 2010.

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