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

Higher Stocks Help UK Pound

UK pound has been ailing recently, and the gains for stocks today are helping remedy that — at least for now. Concerns about the UK economy are on the rise, so the sterling’s gains today may not last.

Sterling Continues to Struggle Against Counterparts

UK pound continues to struggle against its major counterparts today, performing mostly lower across the board. Inflation data is a big part of the problem for the sterling today, with concerns about the economy starting to creep back in.

Economic Data Doesn’t Support Britain’s Pound

Economic news from the United Kingdom were good for the most part today, but it did not prevent the Great Britain pound from dropping and reaching the lowest level in a month against the Japanese yen.

Pound Higher After BoE Meeting

The Bank of England made no surprise, keeping its monetary policy on hold. Yet the Great Britain pound was still able to trim its losses versus the Japanese yen as well as to keep rallying against the US dollar.

UK Pound Gains Ground Today

After struggling recently, the UK pound is gaining a little ground today. Recently released data is helping the sterling, especially as the economic divergence between the United Kingdom and the eurozone remains pronounced.

Manufacturing Data Boosts Pound Against Euro

UK pound is heading higher against the euro today, even though it is down against its low-beta counterparts, the dollar and then yen. Economic divergence is one of the reasons that the pound is doing so well against the euro today.

Pound Struggles a Bit on Economic Data

UK pound is struggling a bit against some of its major counterparts today, thanks largely to recent economic data. While the pound is higher against the dollar right now, it is down against the euro and the yen.

Poor Services PMI Doesn’t Add to Already Bearish Bias of GBP

Today’s report about UK services sector was rather negative, but it hardly affected the Great Britain pound that had already declined versus the US dollar and had retreated from the daily high against the Japanese yen.

UK Pound Unable to Keep Gains

The Great Britain pound attempted to rally today after a positive report about the construction sector but was unable to hold onto gains, falling to the lowest level in three weeks against the US dollar.

UK Pound Pulls Back After Earlier Gains

UK pound is heading lower right now, pulling back after earlier gains. Good economic data provided some support for the sterling, but now profit taking has taken its toll, and lower equities are weighing on the pound.

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