British Pound (GBP) perpetual market

The British pound sterling is the official currency of the United Kingdom and one of the oldest currencies still in use, issued and managed by the Bank of England, which sets the country's monetary policy. It is among the most heavily traded currencies in the world and a significant reserve currency, reflecting London's role as a major global financial center. In foreign exchange markets the pound is quoted most actively against the US dollar, a pair long nicknamed cable, which serves as a barometer of relative strength between the British and American economies. Its value moves with the interest-rate decisions of the Bank of England and the Federal Reserve, differences in growth and inflation, the UK current account and trade balance, and political developments such as elections and fiscal policy. Sterling can be volatile around major economic data and central bank meetings.