Convert US Dollar to British Pound

About US Dollar (USD)

The United States Dollar (USD) is the world's primary reserve currency and the single most traded currency in global foreign exchange markets. Issued by the Federal Reserve System since 1913, it anchors the DXY (U.S. Dollar Index) and sits on one side of roughly 88% of all forex transactions.

• •Involved in ~88% of all daily forex turnover (BIS Triennial Survey)
• •Accounts for roughly 58% of allocated central bank reserves (IMF COFER)
• •Primary invoicing currency for global oil, metals, and most commodities
• •Dollar-denominated debt issued outside the US exceeds $13 trillion
• •The Federal Reserve sets the federal funds rate, which drives USD strength globally

About British Pound (GBP)

The British Pound Sterling (GBP) is the official currency of the United Kingdom and one of the oldest currencies in continuous use, dating back over 1,200 years. It is issued by the Bank of England and is the fourth-most-traded currency globally.

• •In continuous use since Anglo-Saxon England — older than any major fiat rival
• •Fourth-most-traded currency, ~13% of daily global forex turnover
• •Bank of England sets Bank Rate via its Monetary Policy Committee (MPC)
• •GBP/USD carries the traders' nickname "Cable" from the 19th-century transatlantic telegraph cable
• •The UK left the EU on 31 January 2020; Brexit still shapes GBP volatility around trade headlines