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British Pound Sterling (GBP) - BER Currency Guide

In this currency guide we look at :


  1. GBP General Info
  2. GBP Market View
  3. GBP BER News
  4. GBP Cross Rates

British Pound Sterling General Info

The three letter currency code for the British Pound Sterling is GBP and the symbol is £. It is the domestic currency in Guernsey, Isle of Man, Jersey, South Georgia And South Sandwich Islands and United Kingdom.

The British pound (ISO: GBP) is one base unit of sterling – that being the name of British currency – and is subdivided into 100 pence.

Contributing to around 13% of all foreign exchange deals, the pound, or sterling, is the world’s fourth most traded currency.

Reputedly, sterling is 1200 years old. It is said that Anglo-Saxon traders used silver pennies in the eighth century called ‘sterlings’, 240 of which would weigh one pound.

Due to its membership of the European Union, Britain could have adopted the euro as its currency upon its introduction in 1999, however the British government opted against this because it wanted to retain monetary policy independence and because it perceived euro adoption as offering only small economic benefits.

In recent years, the most significant event to affect sterling’s valuation was the UK’s vote to leave the European Union on June 24th 2016 – a day on which the exchange rate for GBP/USD fell by as much as 11%.

In the past two decades, the pound’s highest valuation against the dollar occurred in November 2007 when GBP/USD reached 2.1161. Its lowest value came in October 2016, three-and-a-half months after the historic ‘Brexit’ vote, when GBP/USD reached 1.1905.



GBP - Market View

GBP/USD Updates - Mon 10:00 BST

1 Day  1 Week: British Pound Sterling started the week up against the United States Dollar with the GBP/USD at 1.2836, a rise of 0.22% but remains down for the last 7 days with a drop of -1.17%.

3 Month Trend: GBP/USD is trading higher in the 3-month range [Hi:1.3046, Lo:1.2145] and for the quarter is up 2.82%


British Pound Sterling - BER News

Sterling Falls to 1-Month Low as Polls Show Tory Lead Shrinking

Throughout May, the British pound has battled with the $1.30 level against the US dollar. Since April 27th, the majority of trading in GBP/USD has occurred within a narrow range between $1.2845 and $1.30. Only once since that date did the pair manage to post a close above $1.30, which occurred on May 19th at... View article >
Currency:
Posted on 27 May 2017 | 7:17 am GMT
Author: Joel Wright

British Pound Sterling – Fri May 26: GBP Down vs EUR, USD, CAD, AUD & NZD.

British Pound Sterling down -0.65% against the Euro, down -0.99% against the United States Dollar, down -1.26% against the Canadian Dollar, down -0.88% against the Australian Dollar and down -1.7% against the New Zealand Dollar. GBP 7 Day Cross-Rate Charts Read on for the latest 1-week and 3-month GBP cross rate fluctuations, charts and trends.... View article >
Currency:
Posted on 26 May 2017 | 9:04 pm GMT
Author: BER Research

British Pound Sterling – Thu May 25: GBP Up vs CAD, AUD & NZD and Down vs EUR & USD.

British Pound Sterling down -0.16% against the Euro, down -0.23% against the United States Dollar, up 0.33% against the Canadian Dollar, up 0.37% against the Australian Dollar and up 0.13% against the New Zealand Dollar. GBP 7 Day Cross-Rate Charts Read on for the latest 1-week and 3-month GBP cross rate fluctuations, charts and trends.... View article >
Currency:
Posted on 25 May 2017 | 9:04 pm GMT
Author: BER Research

Loonie Flexing its Wings

The Canadian dollar is in demand. An ever-so-slightly hawkish Bank of Canada statement, ever-so-slightly doveish FOMC minutes, and a surge in oil prices combined to crush USDCAD.  It plunged from its pre-BoC perch of 1.3530 yesterday, to an overnight low of 1.3388. Profit taking and Opec meeting headlines lifted USDCAD to 1.3435 at the New... View article >
Posted on 25 May 2017 | 11:59 am GMT
Author: Agility Forex

Commodity Based Currencies Bolstered by Uptick in Oil Prices

 Sterling After a brief rally against the majority of its peers yesterday morning the Pound (GBP) tumbled by the afternoon over new Brexit concerns. Sterling’s weakness was prompted by a report from BlueBay Asset Management who told traders that they should bet against the Pound as they predict turbulent Brexit negotiations will cause it to... View article >
Posted on 25 May 2017 | 8:47 am GMT
Author: TorFX

British Pound Sterling – Wed May 24: GBP Up vs USD and Down vs EUR, CAD, AUD & NZD.

British Pound Sterling down -0.29% against the Euro, even against the United States Dollar, down -0.72% against the Canadian Dollar, down -0.32% against the Australian Dollar and down -0.38% against the New Zealand Dollar. GBP 7 Day Cross-Rate Charts Read on for the latest 1-week and 3-month GBP cross rate fluctuations, charts and trends. British... View article >
Currency:
Posted on 24 May 2017 | 9:04 pm GMT
Author: BER Research

Moody’s Downgrades China

Moody’s downgraded China’s sovereign debt from Aa3 negative to A1 Stable, overnight.  Traders were surprised and the news led to selling of the commodity currency bloc. That kerfuffle faded quickly and the FX majors opened in New York, very near to their closing levels. AUDUSD dropped from 0.7482 to 0.7443 on the China downgrade mainly... View article >
Currency:
Posted on 24 May 2017 | 12:18 pm GMT
Author: Agility Forex

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