GBP/USD: what to know
The GBP/USD rate shows how much USD you get for 1 GBP. Right now, 1 GBP buys 1.3544 USD at the mid-market rate. In the other direction, 1 USD is worth 0.7384 GBP.
In the short term GBP is driven mainly by Bank of England policy and the UK economy, while USD responds to Fed policy, US growth and global risk appetite.
The British Pound (GBP) is issued by Bank of England. The pound sterling has been in use for over 1,200 years. The US Dollar (USD) is issued by Federal Reserve (Fed). Most of the world’s central-bank reserves are held in US dollars.
Over the past 12 months the GBP/USD rate has ranged between 1.3044 and 1.3817 — a change of +0.37% versus a year ago.
Use this mid-market figure as your benchmark: compare it with the rate your bank or broker quotes, and the difference is the margin you would pay.