The currency pair is the British pound sterling (EUR / GBP).
The currency pair EUR / GBP determines the exchange rate of the two most powerful European currencies - the euro and the British pound sterling. Due to the fact that the pound has always been stronger than the euro, the value of the quotation is less than one.
One of the most significant factors influencing the rate of the British pound on forex is the change in the value of GDP. According to this indicator, the UK economy is on the 5th place in the world, behind Germany, but ahead of France. The UK has a negative foreign trade balance. The main export destinations are the United States, Germany, France, the Netherlands, Ireland.Tthe top five countries with the biggestimports into the United Kingdom: Germany, China, the USA, the Netherlands, Belgium.
Other important factors affecting the quotes of the pound sterling: data on the trade balance, inflation, statistics on industrial production, retail sales, employment, interest rates. The dynamics of this currency pair is influenced by intra-European political events, which may have both a long-term influence (Brexit), the problem of migrants, and short-term - government resignations, terrorist attacks. It is especially necessary to note the policy of the Bank of England, which assumes that the inflation rate will stay at the level of 2%.
The currency pair EUR / GBP is built on the principle of direct quotation. The base currency is EUR, euro, and quoted - GBP, pound sterling. The growth of the currency pair means strengthening of the euro against the pound sterling, that is, EUR need more than GBP to buy. A decrease in the exchange rate indicates a strengthening of the GBP. Using the current exchange rate chart, you can monitor the volatility of the currency pair in real time.
Euro (currency sign - €, bank code: EUR) - official currency of 19 eurozone countries (Austria, Belgium, Germany, Greece, Ireland, Spain, Italy, Cyprus, Latvia, Lithuania, Luxembourg, Malta, Netherlands, Portugal, Slovakia, Slovenia , Finland, France, Estonia). Also, the currency is used in nine countries that are not members of the euro area. The Euro is managed by the European System of Central Banks (ESCB), led by the European Central Bank (ECB).
Pound sterling (currency sign - £, bank code: EUR) is the national currency of Great Britain (United Kingdom of Great Britain and Northern Ireland). Also, the British pound has circulation on the islands of Guernsey, Jersey, the Isle of Man located in the Irish Sea and in the English Channel. On the British overseas territories: the Falkland Islands, Gibraltar, the islands of St. Helena, the Ascension and Tristan da Cunha. The functions of the central bank are performed by the Bank of England, which is responsible for managing the country's monetary policy.
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