The British pound (GPB) is the name of the national currency and monetary unit in Britain. Although Britain is a member of the European Union, it has not yet joined the euro zone, so it still uses the pound. Sterling is mainly issued by the Bank of England, but there are also other issuers. The most commonly used symbol for the pound is. The currency code of ISO 42 17 adopted by the International Organization for Standardization is the pound. In addition to Britain, the currencies of British overseas territories are also denominated in British pounds, and the exchange rate with British pounds is fixed at 1: 1.

English expressions of some currencies

CNY, US dollar, Euro, HKD, British pound, Japanese yen, Korean won, Canadian dollar, Australian dollar, Swiss franc, Singapore dollar, MYR dollar, Indonesian dollar, New Zealand dollar, Vietnamese dollar, Thai baht and Philippine dollar.

Second, the current trend of the pound

In early trading in Europe, the pound hit an intraday high against the US dollar. It is reported that the tension between Britain and Europe has eased, but there is no follow-up. At present, the upward trend has dropped slightly.

GBP/USD found some support around 1.3350, and rebounded slightly from the lowest level since 65438+February in 2020, which was touched last Friday morning, ending the three-day decline. After the US dollar hit a high of1June, some profit-taking occurred, which is considered to be the key factor supporting the exchange rate of the British pound against the US dollar. Nevertheless, any meaningful recovery seems difficult to achieve, and the risk of trying to rebound will soon disappear.

The higher-than-expected US consumer inflation data released on Wednesday reiterated the market expectation that the Fed will be forced to raise interest rates as soon as possible. In fact, federal funds futures show that the Fed may raise interest rates as early as July 2022. This, coupled with the rise in the yield of US Treasury bonds, should help to limit any meaningful pullback of the US dollar and prevent bulls from betting heavily on the British pound against the US dollar in the predicament of Britain's exit from the EU. In addition, the moderate decision made by the Bank of England last week may further curb any meaningful rise in the pound.

On the other hand, if Britain triggers the 16 clause, the EU is prepared to take a package of retaliatory measures. The two sides will hold new negotiations on Friday to avoid an imminent trade war.

However, The Times reported the positive remarks made by Brexit officials on different occasions, which gave the pound a breathing space.