• BITCOIN 956.436 13:00 26.03
  • TEL AVIV 35 1403.700 13:00 26.03
  • BITCOIN 956.436 12:00 26.03
  • TEL AVIV 35 1404.860 12:00 26.03
  • TADAWUL 6874.880 11:20 26.03
  • BITCOIN 956.436 11:00 26.03
  • TEL AVIV 35 1409.990 11:00 26.03
  • BITCOIN 956.436 10:00 26.03
  • TEL AVIV 35 1409.990 10:00 26.03
  • DUBAI 3463.090 10:00 26.03
  • DUBAI 3463.090 09:30 26.03
  • KUWAIT 7033.250 09:20 26.03
  • BITCOIN 953.319 09:00 26.03
  • TEL AVIV 35 1408.570 09:00 26.03
  • DUBAI 3458.140 09:00 26.03
  • TADAWUL 6888.660 09:00 26.03

GBP/USD

GBP/USD: The British Sterling (Pound) and The U.S Dollar

The GBP/USD currency cross (with the GBP as the base currency and the USD as the quote currency) is a major cross pairing two ‘reserve’ currencies. The Pound Sterling or the British Pound, nicknamed the cable and also nicknamed ‘quid,’ is the official currency of England and The United Kingdom, including The Falkland Islands, Gibraltar, The Isle of Man, Guernsey, and other territories.

Historically, the GBP gets its name from a Pound of Sterling Silver, back in the 700’s. Currently, according to reports, the GBP is the fourth most traded currency, comprising approximately11.9% of the daily forex market. In 1940, as part of the Bretton Woods system which established post world war two exchange rates, the Pound Sterling was pegged to the United States dollar.

The British Economy

3 of the biggest United Kingdom forex traders are Barclays Investment Bank, HSBC, and The Royal Bank of Scotland.

The United Kingdom or Britain boasts the 6th largest global economy with Nominal GDP of approximately $USD 2.85 Trillion (2014). The UK Economy is dominated by the Services Sector, comprising approximately 79% of the GDP.

Factors Affecting the GBP/USD currency pair

The highest level of trading the GBP/USD occurs during the British Open and the New York Open. Due to the fact that this highly liquid currency cross pairs two of the largest economies, and reserve currencies, multiple domestic and international economic factors come into play when considering the forex and trading this currency.

Fundamental economic indicators such as UK and US inflation, interest rates, recent QE / quantitative easing by both the Bank of England and the U.S. Federal Reserve, and rising / falling levels of employment have a direct result on price fluctuations. Rising and falling commodity prices also have a direct correlation.

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