About British Pound

 
The British Pound Sterling is the oldest currency still in use in the world. It enjoys high trading volume and is considered one of the four majors in the forex market, along with the US dollar, Euro and the Japanese yen. It is denoted by the symbol GBP in the forex market and its currency sign is “£”. The GBP, along with the USD, EUR, JPY and the Chinese yuan constitute the basket of currencies used to calculate the value of IMF special drawing rights.

The GBP is also considered as an important reserve currency, owing to the perceived strength and stability of the UK’s economy. The Pound Sterling is governed by the Bank of England – the central bank responsible for issuing the currency and regulating its usage. Like other major currencies, the British Pound enjoys high liquidity as well as ample volatility, which is why forex traders interested in trading GBP currency pairs need to stay aware of sudden changes in the live rates of these forex pairs.

In the section below, FX Leaders offers details about today’s price for GBP-related forex pairs which are updated every five seconds. Be sure to refer to today’s rate for currency pairs that include the British Pound before creating your trade plan for the day. The rates listed below experience higher volatility on the days when important economic data is scheduled for release from the UK, such as GDP, inflation, employment, retail sales, consumer confidence, business sentiment and trade balance figures.

In addition, make sure to monitor the live rates for GBP pairs whenever the BOE is scheduled to announce its monetary policy and interest rate decisions. Any changes the central bank makes to these can drive significant volatility in the pairs listed below and provide interesting trade opportunities for you to generate profits.