Currency
GBP/USD exchange-rate chart
GBP/USD quotes the pound sterling, issued by the Bank of England, against the US dollar, issued by the Federal Reserve. Sterling is the base currency and the dollar is the quote currency, so the figure shown is how many US dollars one pound buys.
Traders commonly call this pair 'cable', a name dating from the transatlantic telegraph cable used to relay London–New York exchange rates in the nineteenth century. Like other pairs on this page, it is an interbank spot mid-market quote, not a retail or payment rate.
GBP / USD chart
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At a glance
| Full name | British Pound Sterling / United States Dollar |
|---|---|
| Pair code | GBP/USD |
| TradingView symbol | FX:GBPUSD |
| Instrument type | Spot FX interbank quote (mid-market) |
| Base currency | Pound sterling (GBP) |
| Quote currency | US dollar (USD) |
| What one unit represents | How many US dollars one pound buys |
| Market schedule | Roughly 24 hours a day, Sunday evening to Friday evening UTC; closed at weekends |
| Central banks involved | Bank of England; US Federal Reserve |
| Liquidity/session notes | Historic name 'cable'; most liquid during London trading hours and the London–New York overlap |
| Data delay note | Chart data may be delayed; this page is not a dealing or payment rate |
What is GBP / USD?
Sterling is issued by the Bank of England, the UK's central bank, which sets the Bank Rate and oversees UK monetary policy independently of the eurozone. The US dollar is issued by the Federal Reserve and remains the dominant global reserve currency.
GBP/USD is one of the oldest and most closely watched currency pairs, given London's role as a global financial centre. Its nickname 'cable' reflects the historic telegraph link used to transmit exchange rate information between London and New York dealers.
How to read this chart
A rising GBP/USD line means sterling is strengthening against the dollar — one pound buys more dollars. A falling line means sterling is weakening and the dollar is gaining ground.
A UK exporter invoicing in dollars receives fewer pounds per dollar of revenue when GBP/USD rises (sterling strengthens), and more pounds per dollar when GBP/USD falls (sterling weakens). As with all pairs here, the chart shows a mid-market reference rate, not the rate applied to an actual payment or transfer.
What moves it?
- Bank of England policy
- Bank Rate decisions and the Monetary Policy Committee's guidance on future rate moves are a central driver of sterling.
- UK fiscal policy
- Government borrowing plans, the Budget, and gilt market reaction can move sterling independently of interest-rate expectations.
- US Federal Reserve policy
- Fed rate decisions and US data releases affect the dollar side of the pair symmetrically with the UK side.
- UK inflation and labour market data
- CPI and wage growth releases shape expectations of how the Bank of England will set rates.
- Risk sentiment and dollar demand
- Broad shifts into or out of the dollar as a safe-haven currency can move GBP/USD even without UK-specific news.
Why businesses and investors monitor it
UK businesses trading with US counterparties use GBP/USD to assess the cost of hedging dollar receivables or payables, to price contracts denominated in either currency, and to understand the translation impact of US subsidiaries or dollar-denominated debt in consolidated accounts.
Because sterling is more sensitive to UK-specific fiscal and political developments than some other major currencies, businesses with UK exposure often track GBP/USD alongside domestic UK indicators.
GBP/USD vs EUR/GBP
GBP/USD shows sterling against the dollar, while EUR/GBP shows the euro against sterling directly, without the dollar as an intermediary. Comparing the two helps separate sterling moves driven by UK-specific factors from moves driven by broad dollar strength or weakness.
For UK businesses trading with both the US and the eurozone, tracking both pairs gives a fuller picture of sterling's overall direction.
Frequently asked questions
Why is GBP/USD called 'cable'?
The nickname dates from the transatlantic telegraph cable historically used to relay London and New York exchange rate quotes between dealers.
Why is my bank's rate different from the GBP/USD chart?
The chart is an interbank mid-market rate. Banks and payment providers add a margin, so the rate offered for an actual transfer will differ.
What does a weaker pound mean for a UK importer?
A weaker pound (falling GBP/USD) means more sterling is needed to buy the same amount of dollar-invoiced goods, raising import costs, all else equal.
Does UK fiscal policy affect GBP/USD?
Yes. Government borrowing announcements and market reaction in UK gilts can move sterling independently of Bank of England rate decisions.
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Sources
- Bank of England statistical database
- Federal Reserve H.10 foreign exchange rates
- BIS triennial FX survey
Written and maintained by the StandardsDesk editorial team. Last reviewed 2026-08-06. The explanatory text on this page is evergreen: it is not updated with market movements, and no current price or level is quoted anywhere outside the chart.
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