USD Exchange Rate
Ahh, America: the global behemoth that brought the world the automobile, the airplane and the iPhone--where innovation reigns supreme even though 7% of the population believes the moon landings were a hoax.
What influences the GBP/USD exchange rate?
The GBP/USD currency pair is known as trading the ‘Cable’ and is the 3rd most popular currency pair after USD/EUR and USD/JPY.1 Fluctuations in the GBP/USD exchange rate are often based around perceptions of relative economic strength between the two countries, and fiscal policy announcements by the Federal Reserve and Bank of England may play an influential role as well.
The United Kingdom is one of the largest markets for U.S. goods exports and one of the largest suppliers of U.S. imports. The United States and the United Kingdom share the world's largest bilateral foreign direct investment partnerships.
---U.S. Department of State
In 1946, Winston Churchill referred to the U.S./U.K. alliance as a ‘special relationship’--a modest phrase for the often unparalleled and unprecedented cooperation between two major powers. Along with Australia, New Zealand and Canada, the U.S. and U.K. are primary participants in the intelligence sharing alliance known as the Five Eyes.
Higher education is a popular export for both countries. For the U.S. it’s a $21 billion contributor to the economy while for the U.K. it hit £20.2 billion in 2013.2
The two countries share a love of fast food. Americans spend about $37 billion per year on pizza. That’s roughly ⅓ of the global market and amounts to a consumption rate of about 100 acres per day. Comparatively, the U.K. spends just under £3 billion on pizza annually.3
Currency Name: US dollar. Also known as: bucks, benjamins, bones.
Currency Code: USD
Currency Symbol: $
Central Bank: The Federal Reserve
Countries Used In: U.S.A, Ecuador, East Timor, El Salvador, Marshall Islands, Micronesia, Palau, Turks and Caicos, British Virgin Islands, Zimbabwe
Major Unit: One dollar
Minor Unit: One cent or penny
Note Denominations: 1, 2 (rare), 5, 10, 20, 50, 100
Coin Denominations: Penny (1¢), nickel (5¢), dime (10¢), quarter (25¢), half dollar (50¢), one dollar.