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What Influence The GBP To USD Exchange Rate ?

When trading the GBP/USD currency pair, the price will show how much USD you need to trade GBP. The GBP/USD pair is popular among traders as they are some of the world’s oldest and most traded currencies.

This pair has a tight spread, as it is traded heavily and is a highly liquid market. Its popularity among traders ensures that buying and selling GBP/USD will remain easy for new and experienced traders alike.

This pair is known for its volatility and unpredictability, as well as a wide range in its price difference at times in history. Pay attention to these factors so that you can better forecast GBP/USD rates:

  • The Bank of England: The governing body of the GBP, which controls monetary policy and interest 

  • The US Federal Reserve: Also determines monetary policy and interest rates

  • Economic health: Consider each country’s GDP, any major changes, and inflation rates to get a better idea of GBP/USD forecast

  • Employment statistics: This can show how the country is managing their economic health

  • Geopolitical events: For example, when the UK announced Brexit, the GBP took a huge hit to 1.25 on the dollar

  • Import/Export data: When countries increase their exports, there is a positive effect on local currency

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Forex FAQ

In addition to the EURUSD, the forex market also has 6 major currency pairs, all of which have the US dollar.
The major currency pairs with the US dollar as the base currency include:

• US Dollar/Japanese Yen (USD/JPY)
• US Dollar/Swiss Franc (USD/CHF)
• US Dollar/Canadian Dollar (USD/CAD)

The main currency pairs with the U.S. dollar as the quote currency include:
• British Pound/U.S. Dollar (GBP/USD)
• New Zealand Dollar/U.S. Dollar (NZD/USD)
• Australian Dollar/U.S. Dollar (AUD/USD)

These currency pairs are closely related to the EUR/USD. You need to pay attention to this correlation in order to gain profits or reduce risks when trading.

MiTrade’s platform offers easy to use risk management tools and no commission, so that you can trade currency pairs with ease. Choose leverage that suits your goals and earn high rewards.

Enter a trusted broker to earn exponentially higher rewards, but be aware of the risks that come with this type of leveraged trade. 

Forex leverage is the amount of trading funds your broker is willing to credit your investment based on a ratio of your capital to the size of the credit. Your invested capital is usually only a fraction of the forex leverage credit size. In essence, leverage is borrowed capital you obtain from your broker to increase your potential returns. 

The amount of leverage you can access differs from broker to broker. It also depends on the conditions for trading provided by your broker. You will be required to maintain a minimum balance in your account (usually a fraction of the leverage you will obtain) from which your leverage will be calculated based on the agreed-upon ratio. You use margin to create leverage. FX brokers call this trading on margin.

When trading with margin, the broker will set aside only a fraction of your position’s value, and they will fund the rest. Hence, you are said to be leveraged. The fraction of the position’s cost that was set aside is the margin requirement. It is expressed in percentage; say you are required to put up 2% of a $10,000 trading position you open. This means that you are trading at $10,000, but you only need to provide $200.

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