The British pound to the US dollar pair is one of the most traded pairs in the Forex market. This trading instrument is considered ultra-volatile and aggressive, which attracts many traders. When trading often there are strong fluctuations in value and bid reversals.
The dynamics of the GBP / USD currency pair is directly affected by three factors:
The pound sterling rate is influenced by external and internal factors.For example, such macroeconomic factors, as the unemployment rate, inflation, gross national product and trade balance figures. External factors are economic relations with the United States and Europe, that is, deterioration or improvement in the economic condition of the UK's partners affects the pound itself.
Using the current exchange rate chart, you can monitor the volatility of the currency pair in real time.
The GBP / USD pair is built on the principle of direct quotation. The base currency is GBP, the British pound, and the quoted currency is USD, the US dollar. The growth of the currency pair means the strengthening of the British pound against the US dollar, that is, to buy one GBP, more than USD is required. A decrease in the exchange rate indicates a strengthening of the US dollar.
The American dollar - (currency sign - $, bank code: USD) - is the national currency in the United States, one of the main reserve currencies in the world. Since 1913, the Federal Reserve System, which fulfills the functions of the Central Bank, has the right to issue money.
British pound, pound sterling or pound - (currency symbol: £, Bank code: GBP) is a currency that acts as the national currency of the United Kingdom of Great Britain and Northern Ireland (Great Britain), including England, Scotland, Wales and Northern Ireland. Also the pound is a parallel currency of the crown lands of Guernsey, Jersey and the Isle of Man. The pound sterling is a legal tender for the British overseas territories: the Falkland Islands, Gibraltar, St. Helena, Ascension and Tristan da Cunha. The Bank of England has the right of money issue and regulation.
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