The pound sterling is the fourth most-traded currency in the foreign exchange market. Another significant data release for the Pound Sterling is the Trade Balance. Therefore, a is kraken a safe exchange positive net Trade Balance strengthens a currency and vice versa for a negative balance.

• Sterling’s advance was driven largely by sustained pressure on the US Dollar (USD), which accelerated in the latter part of the week following President Donald Trump’s threat to impose 50% tariffs on European Union (EU) imports.
• It is a last resort when simply lowering interest rates is unlikely to achieve the necessary result.
• Several countries use the U.S. dollar as their official currency, and many others allow it to be used in a de facto capacity.
• The deal also sets the stage for further negotiations on quotas for UK steel and aluminium exports, while discussions will continue on broader issues including rules of origin, pharmaceuticals, digital trade, financial services and agriculture.
• The GBP/USD pair usually has a positive correlation with the EUR/USD pair and a negative correlation with USD/CHF pair.

Historical currency rates

Banks long term forex trading often advertise free or low-cost transfers, but add a hidden markup to the exchange rate. Wise gives you the real, mid-market, exchange rate, so you can make huge savings on your international money transfers. The pound is the official currency of the United Kingdom of Great Britain and Northern Ireland.

British Pound Sterling to

The author and FXStreet are not registered investment advisors and nothing in this article is intended to be investment advice. A light UK calendar next week should prompt investors to steer away from the domestic calendar and closely follow developments on the trade front as well as US Dollar dynamics. Regarding the UK labour market, despite the jobless rate ticking higher by 0.1% in March, Average Earnings including Bonus, a proxy for inflation, rose more than expected, while the Claimant Count Change rose to just above 5K individuals. After bottoming out near the $3,290 level per troy ounce, Gold is now attempting a move to the $3,300 zone amid marginal gains and despite the persistent buying pressure sustaining the US Dollar.

The newly announced US-UK trade deal saw Britain remove its 20% retaliatory tariff on US beef, starting May 8, 2025, and introduce new tariff-free quotas for American beef and 1.4 billion litres of US ethanol. In return, the US has agreed to allow up to 100K UK-made vehicles to enter the US at a reduced 10% tariff. On the above, preliminary UK GDP figures surprised to the upside after showing the economy is expected to have expanded 0.7% QoQ in the January-March period, and 1.3% over the last 12 months. Adding to the bullish backdrop, UK 10-year gilt yields climbed to multi-week highs above 4.80% earlier in the week, though they later gave back some of those gains. The Relative Strength Index (RSI) indicator on the 4-hour chart stays near 50, reflecting a loss of bullish momentum.

• Adding to the bullish backdrop, UK 10-year gilt yields climbed to multi-week highs above 4.80% earlier in the week, though they later gave back some of those gains.
• So far this week, Chief Economist Huw Pill said that he believed a quarterly pace of interest rate cuts would have been too rapid given the current inflation outlook.
• To get the best possible experience please use the latest version of Chrome, Firefox, Safari, or Microsoft Edge to view this website.
• Therefore, a positive net Trade Balance strengthens a currency and vice versa for a negative balance.
• The table below shows the percentage change of British Pound (GBP) against listed major currencies this week.

Change Currency Calculator Base Currency

Exchange rates can fluctuate by the minute while markets are open. However, the period between 3-4 PM GMT is often a good time to convert British Pounds to US Dollars because currency market liquidity and trading volume tend to be the highest during this time. Additionally, it’s advisable to convert British Pounds to US Dollars early in the week if you need USD urgently.

New Zealand cut the rate, but not the Kiwi

The single most important factor influencing the value of the Pound Sterling is monetary policy decided by the Bank of England. The BoE bases its decisions on whether it has achieved its primary goal of “price stability” – a steady inflation rate of around 2%. Its primary tool for achieving this is the adjustment of interest rates.When inflation is too high, the BoE will try to rein it in by raising interest rates, making it more expensive for people and businesses to access credit. This is generally positive for GBP, as higher interest rates make the UK a more attractive place for global investors to park their money.When inflation falls too low it is a sign economic growth is slowing. In this scenario, the BoE will consider lowering interest rates to cheapen credit so businesses will borrow more to invest in growth-generating projects.

Banks and traditional providers often have extra costs, which they pass to you by marking up the exchange rate. Our smart tech means we’re more efficient – which means you get a great rate. Data releases gauge the health of the economy and can impact the value of the Pound Sterling. Indicators such as GDP, Manufacturing and Services PMIs, and employment can all influence the direction of the GBP.A strong economy is good for Sterling.

Another way to get the best gbp to usd exchange rate is to start trading by yourself, open account and buy or sell gbp, usd by your own risk at the best exchange rate. For trading you must be experienced and to know how to control the trading risk, it is very risky. The easiest and safest way is to find reliable currency exchange in the city, where you’ll be able to exchange your money. Another way is to exchange your money online with some reliable apps or banks services. Here, you can check and follow live exchange rate and calculate gbp to usd online.

Compare our rate and fee with our competitors and see the difference for yourself. Later in the day, April Durable Goods Orders and May CB Consumer Confidence Index data from the US will be watched closely by market participants. A noticeable recovery in consumer sentiment could support the USD with the immediate reaction. On the other hand, a further deterioration in confidence could hurt the currency and help GBP/USD regain its traction. The table below shows the percentage change of British Pound (GBP) against listed major currencies this week. Auspicious results from UK fundamentals highlighted the positive momentum the domestic economy appears to have walked into, at the same time prompting the “Old Lady” to maintain a prudent stance when it comes to deciding on future policy rates moves.

GBP exchange rates

However, he suggested that his decision earlier this month to vote for holding rates steady was likely to be just “a skip” rather than a change in direction. Although investors don’t expect the Fed to cut the policy rate at the next meeting in June, comments on the policy outlook could trigger a market reaction. Investors are currently still pricing in about a 70% probability that the Fed will cut the policy rate at least twice this year. If the publication suggests that policymakers are reassessing the rate outlook to see whether a single rate cut is more likely, given the uncertainty surrounding the inflation outlook, the USD could gather strength and trigger another leg lower in GBP/USD. The US Dollar (USD) outperformed its rivals on Tuesday and weighed on GBP/USD, supported by an improving sentiment around the US economy on the back of upbeat data releases.

Rising US yields, in the meantime, continue to cap the upside potential of the yellow metal. FXStreet and the author do not provide personalized recommendations. The author makes no representations as to the accuracy, completeness, or suitability of this information. FXStreet and the author will not be liable for any errors, omissions or any losses, injuries or damages arising from this information and its display or use. Quantitative tightening (QT) is the reverse process whereby the Federal Reserve stops buying bonds from financial institutions and does not reinvest the principal from the bonds it holds maturing in new purchases.

There were a couple of news stories that have shaken the trade front in the past few weeks. Indeed, the White House announced a trade truce with China while announcing a trade agreement with the United Kingdom (UK). In addition, UK inflation data was a big surprise this week, after the Consumer Price Index (CPI) rose more than initially estimated in April. While headline inflation gained 3.5% from a year earlier, core inflation advanced 3.8% on a yearly basis.

Our list features easymarkets broker brokers with competitive spreads, fast execution, and powerful platforms. Whether you’re a beginner or an expert, find the right partner to navigate the dynamic Forex market. The 14-day Relative Strength Index (RSI) rises to near 70.00, indicating a strong bullish momentum. Use this currency calulator for live currency conversions as you type.

If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet. So far this week, Chief Economist Huw Pill said that he believed a quarterly pace of interest rate cuts would have been too rapid given the current inflation outlook.