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

Scottish Independence Weighs on Pound

UK pound is lower today, thanks in large part to the latest poll on Scottish independence. The latest numbers indicate that those favoring a split from the United Kingdom have pulled ahead of those opposed to the split. The idea that the United Kingdom is falling apart is one that is weighing on the pound today.

Sterling Attempts to Gain Ground After BoE

The Great Britain pound experienced weakness today but halted its decline and attempted to gain ground after the Bank of England decided to keep its monetary policy unchanged.

Pound Sinks, Finds No Help from Construction PMI

The Great Britain pound sank to the lowest level since March against the US dollar today. The currency was also weak against other majors, even the Japanese yen, against which the sterling has rallied earlier.

UK Pound Continues to Struggle

UK pound continues to struggle in Forex trading today, thanks in large part to the fact that the economic data isn’t holding up, and Bank of England policymakers don’t seem to be on the same page.

UK Retail Sales Make Life Harder for Sterling Bulls

The Great Britain pound fell a bit today after retail sales missed forecasts, reinvigorating concerns about Britain’s economic growth. The losses were limited though, and the sterling managed to gain ground as the monetary policy outlook supported the currency.

BoE Minutes Contribute to Pound’s Strength

Monetary policy minutes of the latest Bank of England meeting revealed that two policy makers were in favor of raising interest rates. This caused the Great Britain pound to gain against its major counterparts.

Carney’s Comments Help Pound Gain Ground

The Great Britain pound rose today after Bank of England Governor Mark Carney said over the weekend that the central bank may start raising interest rates before actual wage growth kicks in.

UK Pound Remains Mixed Against Major Counterparts

UK pound is mixed today, thanks to a lot of thought being given to the latest data points, as well as to interest in possible outcomes for the future of the UK economy.

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.

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