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Pound to Dollar (also reffered to as Cable, GBP to USD or GBP/USD) is the exchange rate of the British Pound expressed in U.S. dollars and belongs to major currency pairs. Pound to Dollar is the third most traded currency pair in the world. Pound to Dollar is also honored among forex traders thanks to its high volatility and trading opportunities. As a result, many speculators trade it on the short term to capture some of this volatility.
These large variations are due in particular to the various economic announcements that occur throughout the day. The economic news on the GBP (British Pound) are published most often in the morning at 10:30 (GMT+1) and at 14:30 (GMT+1), it is the turn of announcements on US Dollar.
The GBP / USD currency pair consists of the world's largest economies, Great Britain versus United States. According to interbank market's statistics, USD is involved in more than 85% forex trades while GBP in 13% of forex transactions. Pound to Dollar makes up to 9% turnover of the whole forex market.
Spread of Pound to Dollar currency pair is usually higher than EUR/USD spread, but in comparison to the Pound to Dollar volatility, it can offer even better trading opportunities. The most volatile periods of Pound to Dollar are London (especially opening time) and New York sessions.
High Risk Warning : Please note that foreign exchange and other leveraged trading involves significant risk of loss. It is not suitable for all investors and you should make sure you understand the risks involved, seeking independent advice if necessary.
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