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 Pulls Back After Strong Run

UK pound is pulling back today, following a strong run earlier. Sterling has been enjoying unprecedented strength, and is now taking a bit of a breather as traders and others re-assess the situation.

Pound Edges Higher During Week of BoE Minutes

This week was relatively quiet despite releases of policy minutes of several major central banks. The Great Britain pound attempted to rally and was able to hold gains against such currencies the euro and the Japanese yen, while retreating close to the opening against the US dollar by the end of the week.

GBP Mixed After Economic Releases

The Great Britain pound fell against the US dollar today after the release of the GDP report and the data about the public sector finances. The currency rose against the Japanese yen and was attempting to rally against the euro but lost its gains by now.

UK Pound Maintains Gains After BOE Minutes

The minutes from the latest Monetary Policy Committee have been released, and there are signs that members of the committee are trying to decide how much slack there is in the market, and when they can start cutting back on bond asset purchases and when it makes sense to raise interest rates.

GBP Surprises Forex Traders, Falling After Good CPI

The first important economic report from Great Britain for this week, inflation data, was released and it turned out to be better than expected. As a surprising twist, the pound sank after the positive report, though it is attempting to recover as of now. The sterling gained on the dollar, was flat versus the Japanese yen and fell against the euro.

Week That Should Be Important for British Currency

The Great Britain pound experienced weakness last week, faltering after an impressive rally versus the US dollar. This week is full of important events and may determine the performance of the sterling in the near future.

Pound Starts Week Soft Despite Record House Prices

The Great Britain pound has started this week on a weak footing despite very good housing data that showed record growth of home prices. It looks like the traders’ sentiment was not in favor of currencies that are perceived to be relatively risky.

UK Pound Continues to Show Strength

UK pound continues to show strength today, following up on yesterday’s rebound. Sterling is gaining particularly against the euro, although it is higher against other major currencies as well.

Sterling Under Pressure After Employment Data & Inflation Report

The Great Britain pound was under pressure today as employment data was somewhat disappointing. The currency remained weak even as the central bank’s chief was talking about prospects for an interest rate hike.

Sterling Shows Weakness Ahead of Important Reports

The Great Britain pound demonstrated weakness today ahead of tomorrow’s important economic releases that should guide the currency’s performance for the near future. Similar to most other major currencies, the sterling managed to outperform the euro.

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