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

Sterling Drops vs. Dollar, Fares Better vs. Other Majors

As most other currencies, the Great Britain pound fell against the US dollar today after the release of non-farm payrolls. The sterling fared better against other majors, including the euro.

Pound Overcomes Service Data Drag

Service sector data sent the pound a little lower earlier, but now the sterling is overcoming some of that drag. Pound is still down against the euro, but it is gaining against other major currencies like the yen and the dollar.

Pound Rallies After Construction PMI, Struggles to Keep Gains

The Great Britain pound rose today as Britain’s construction Purchasing Managers’ Index climbed last month, exceeding analysts’ expectations. The rally was not big, though, and the currency is struggling to keep its gains.

UK GDP Growth Gets No Revision, Pound Drops

The Great Britain pound dropped against the US dollar and almost erased its gains against the Japanese yen today even though economic data from the United Kingdom was good for the most part.

Pound Rally Slows in Forex Trading

The pound has enjoyed a rally recently, but that rally is slowing right now. Sterling is trading mixed today against its major counterparts.

Pound Heads to Weekly Gains Despite Friday’s Drop

The Great Britain pound fell today despite better-than-expected macroeconomic data from the United Kingdom. Still, the currency was heading to a weekly gain against the euro and the Japanese yen, though it likely to end the week with losses against the US dollar.

Pound Higher After BoE Minutes

The Bank of England released minutes of its May policy meeting during the current trading session. While the Great Britain pound has been flat against the US dollar after the release, the currency gained on its other major rivals, including the euro and the Japanese yen.

Pound Slumps as Great Britain Enters Deflation

The Great Britain pound tumbled today as the United Kingdom has entered deflation for the first time in more than 50 years. The currency had been moving mostly sideways ahead of the report.

Deflation Sends the UK Pound Lower

After showing strength on the heels of the recent election in the United Kingdom, the pound is now weakening. The latest inflation data is in, and it appears that deflation is affecting the sterling.

Great Britain Pound Falls vs. Dollar, Retains Strength vs. Other Majors

The Great Britain pound pulled back from the six-month high against the US dollar as the greenback made a bounce. Still, the UK currency gained against other majors, including the euro.

Archives

SUBSCRIBE

Follow Top Forex News on Twitter T