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 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.

UK Pound Soft due to Shop Price Deflation, Supported by Services PMI

The Great Britain pound was soft today as shop price deflation persisted last month, suggesting that the UK economy is not yet completely healthy. Losses were limited, though, as the services sector continued to demonstrate robust expansion.

UK Pound Gains as HPI Rises

The Great Britain pound advanced today after a good report about house prices, yet gains were limited as not all today’s data from the United Kingdom was particularly good.

GBP Falls vs. USD, Rises vs. JPY After Manufacturing Report

Today’s data about Britain’s manufacturing sector left mixed feeling in Forex traders, resulting in a drop of the Great Britain pound against the US dollar but an advance versus the Japanese yen.

GBP Gains on USD as UK Consumer Sentiment & House Prices Rise

The Great Britain pound rallied against the US dollar today as the UK consumer sentiment improved and house prices were rising. The sterling trimmed its gains against the greenback by now and trades virtually flat versus the Japanese yen.

UK Pound Struggles a Bit

UK pound is struggling a bit right now. Some disappointing data is contributing to the situation, and, as a result, the pound’s strength is waning a bit.

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.

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