GBP/USD
Type: Currency | Group: Majors | Base: Poundsterling | Quote: US Dollar | Spread: 0.04 – 3.4 pips
Highest Level (Jul 2008) |
1.6040 |
Interest Rates | |
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Bank of England | Federal Reserve |
0.00% | 0.00 – 0.25% |
Lowest Level (Oct, 2000) |
0.8231 |
About GBP/USD
The British pound U.S. dollar (GBP USD) is a currency pairing whereby the British pound and the U.S. dollar can be traded against each other. The GBP USD can be thought of as the pound versus the dollar – you short the pound and go long the dollar or short the dollar to go long the pound. The GBP USD is one of the three most traded currency pairs and is also one of the oldest. It was initially traded by undersea cable between the U.S. and Great Britain, so the nickname cable is often used for the pair. The GBP USD may also be written as GBP/USD.
About Poundsterling
The British pound sterling (GBP) is the official currency used in the United Kingdom. The pound sterling is considered to be one of the major currencies and is paired with all the other major currencies, including the U.S. dollar (USD), Japanese yen (JPY), Swiss franc (CHF), euro (EUR), Australian dollar (AUD) and Canadian dollar (CAD). It also acts as a base currency for many less commonly traded and exotic currencies.
The United Kingdom is one of the world’s largest economies. Although it is a member of the European Union (EU), the UK has chosen to keep the pound sterling as its currency. The economy of the UK is very similar to the U.S. in that services play a larger role than commodities.
The pound sterling had the unfortunate role of being the target currency of the greatest currency trade in history. On September 16, 1992, currency speculators lead by George Soros forced the British government to pull out of the European Exchange Rate Mechanism (ERM) – a precursor to the EU and euro. Soros made over $1 billion on the trade and went down in history as the man who broke the Bank of England.
About US Dollar
The USD is integral to world trade in that it belongs to the world’s largest economy and acts as the world reserve currency. Because of this unique situation, many of the standard economic rules do not seem to apply to the USD.
The U.S. government has had long periods of fiscal irresponsibility and yet the USD has not always suffered during inflationary times that would damage any other currency. This is because, as the world’s largest economy, the USD is considered a safe haven currency in times of global uncertainty. However, this rule doesn’t always hold, and the U.S. dollar does eventually pay for periods of prolonged inflation and trade deficits – it just seems to enjoy a much longer lag before any market reaction takes place.
Latest GBP/USD
Chair FED Jerome H. Powell Welcoming Remarks
"Good morning, and welcome to the inaugural conference on the International Roles of the U.S. Dollar. Thank you all for
Federal Reserve FOMC statement
Overall economic activity appears to have picked up after edging down in the first quarter. Job gains have been robust
UK GDP monthly, April 2022
Key points Gross domestic product (GDP) fell by 0.3% in April 2022, after a decline of 0.1% in March 2022;
U.S. International Trade in Goods and Services, April 2022
The U.S. Census Bureau and the U.S. Bureau of Economic Analysis announced today that the goods and services deficit was $87.1 billion
US: Total Nonfarm-Payroll Employment Rose by 390,000 in May
Total nonfarm payroll employment rose by 390,000 in May, and the unemployment rate remained at 3.6 percent, the U.S. Bureau
What’s going on with the GBP?
The Bank of England was one of the first major banks to increase interest rates in order to deal with
US: The number of job openings decreased to 11.4 in April
The number of job openings decreased to 11.4 million on the last business day of April, the U.S. Bureau of
Gross Domestic Product, First Quarter 2022
Real gross domestic product (GDP) decreased at an annual rate of 1.4 percent in the first quarter of 2022, according
The pound reacts to rising inflation like EM currency
Inflation in the UK is developing an acceleration stronger than expected. Estimates for March marked a 1.1% CPI gain for
GBP/USD is still falling and slowly approaching the lows
The Pound sterling resumed its decline against the USD. The current quote for the instrument is 1.3012. The statistics published