Exchange rates are reference points, not offers. This guide explains the forces behind the numbers you see.
The History of 'Cable' (GBP/USD)
The term 'Cable' originated in the mid-19th century when exchange rates between the British Pound and the US Dollar were transmitted across the Atlantic via a transatlantic telegraph cable laid on the ocean floor.
As one of the oldest currency pairs in existence, GBP/USD remains a bellwether for UK financial health and transatlantic investment flows.
Bank of England (BoE) Policies and UK Inflation
The Bank of England's Monetary Policy Committee (MPC) meets eight times a year to set the Official Bank Rate. Factors like UK wage growth, services inflation, and energy prices directly impact Sterling volatility.