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

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.

Carney Suggests Interest Rates May Rise Soon, GBP Jumps

The Great Britain pound soared today, reaching the strongest rate since November 2012 versus the euro, with help of very hawkish comments from Bank of England Governor Mark Carney. The Governor revealed that he considers raising interest rates sooner than the market is anticipating.

UK Employment Data Helps GBP Gain on USD

The Great Britain pound rose today against the US dollar after UK employment data continued to show an improvement of the labor market in the United Kingdom. The sterling fell versus the Japanese yen for the second session.

Good UK Economic Data Doesn’t Make GBP Strong

The Great Britain pound gained on the euro with help of positive domestic fundamentals. The data did not support the sterling versus the US dollar and the Japanese yen, and even gains versus the euro were greatly reduced by now.

BoE Stays Idle, Sterling Jumps

The Great Britain pound jumped today after the Bank of England refrained from changing its monetary policy, leaving the main interest rate and the asset purchase program the same.

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