iPath GBP/USD Exchange Rate ETN (GBB) - NYSEARCA
  • Wed, Jul. 20, 7:45 AM
    • Could it be the experts were wrong? The U.K.'s unemployment rate fell to 4.9% in the three months ended in May - the lowest level since 2005. Though the numbers predate the Brexit vote, that country's version of the Fed's Beige Book reports a big jump in uncertainty, but no evidence of a sharp slowing in the economy since the vote.
    • Cable is up 0.4% to $1.3165. The FTSE is ahead 0.2%.
    • The Bank of England sat on its hands last week, but promised a rate cut in August. Will it be able to talk its way out of it?
    • ETFs: FXB, EWU, GBB, EWUS, FKU, DXPS, DBUK, QGBR, HEWU
    | Wed, Jul. 20, 7:45 AM
  • Tue, Jul. 12, 1:22 PM
    • "Our base case is we will have a recession," says Richard Turnill, chief investment strategist at BlackRock. "There's likely to be a significant reduction of investment in the U.K."
    • Not only will there be recession next year, but BlackRock expects at least 50 basis points to be shaved from economic growth in each of the next five years. The team expects the Bank of England this week to cut its benchmark rate from the current all-time low of 0.50% to zero.
    • As for Europe, the fallout will result in "materially lower" growth. For the U.S. and Japan, the effect will be more moderate.
    • ETFs: FXB, EWU, GBB, EWUS, FKU, DXPS, DBUK, QGBR, HEWU
    | Tue, Jul. 12, 1:22 PM
  • Wed, Jul. 6, 12:18 PM
    • Sterling has already plunged to a 31-year low in the area of $1.29, but it's got another 7-11% downside, say the big banks, with Goldman and Citi seeing a bottom around $1.20, and Deutsche $1.15 by year-end.
    • The first wave of selling was in response to the Brexit vote, and the 2nd, they say, will come thanks to the Bank of England's policy response.
    • “Our aggressive forecasts may still be under-stating the level of weakness," says George Saravelos, co-head of fx research at Deutsche.
    • ETFs: FXB, GBB
    | Wed, Jul. 6, 12:18 PM | 11 Comments
  • Sun, Jul. 3, 3:19 PM
    • Chancellor of the Exchequer George Osborne tells FT he is planning to slash corporate taxes to less than 15% (vs. current 20%) in an effort to woo business deterred from investing in a post-Brexit Britain as part of his new five-point plan to galvanize the economy.
    • Plan focuses on investment from China, support for bank lending, redoubling investment in Northern England, and maintaining fiscal credibility.
    • Osborne wants to set the lowest corporate tax rate of any major economy. He says Britain should “get on with it” to prove to investors that the country was still “open for business.”
    • Osborne said whoever becomes PM "should seek maximum access to the EU single market for Britain’s goods, services and financial services, but conceded that could be curtailed by the fact that voters in last month’s referendum also want restrictions on EU migration."
    • ETFs: FXB, EWU, GBB, EWUS, FKU, DXPS, DBUK, QGBR, HEWU
    | Sun, Jul. 3, 3:19 PM | 5 Comments
  • Sun, Jul. 3, 2:30 PM
    • via Morgan Stanley:
    • "The bottom line is that Brexit is ultimately a political crisis and one that is not likely to be resolved in a hurry. There will be many twists and turns in the path to ultimate resolution.
    • "There may yet be circumstances that give rise to bigger systemically risky events. For now, we don't think we are quite there and we feel that the current architecture of the global financial system is more resilient than it used to be when the last big storm hit us.
    • "That said, caution is clearly warranted. The global economy was not in great shape pre-Brexit and is now worse. There is likely to be more downside to come, particularly in European equities and in GBP.
    • "We see US assets across the spectrum - stocks, FX, credit and government bonds - as relative safe havens, and parts of securitized products, particularly US resi credit and broad exposure to US housing, as being relatively insulated."
    • ETFs: FXE, XHB, ITB, EUO, REZ, ERO, EUFN, DRR, CEE, TRF, PKB, ULE, GUR, EUFX, ESR, URR, IFEU, HOML, HBU, HBZ, NAIL, HOMX, CLAW, DBSE, FXB, EWU, GBB, EWUS, FKU, DXPS, DBUK, QGBR, HEWU
    | Sun, Jul. 3, 2:30 PM | 6 Comments
  • Thu, Jun. 30, 8:06 AM
    • Surprising all, former London Mayor Boris Johnson says he won't run for leadership of the Conservative Party and therefore the role of Prime Minister.
    • His decision comes after Justice Secretary Michael Gove - a fellow Brexit supporter who was thought to be backing Johnson - announced his own bid for the leadership role.
    • “I have come, reluctantly, to the conclusion that Boris cannot provide the leadership or build the team for the task ahead,” says Gove.
    • The FTSE is down a hair today, but just above the level it stood at prior to Thursday's vote. Sterling is flat at $1.3428.
    • ETFs: FXB, EWU, GBB, EWUS, FKU, DXPS, DBUK, QGBR, HEWU
    | Thu, Jun. 30, 8:06 AM | 18 Comments
  • Mon, Jun. 27, 4:35 PM
    • Fitch lowers the U.K.'s credit rating to AA from AA+, joining S&P's action earlier this afternoon. The outlook remains negative (as it does with S&P).
    • "Uncertainty following the referendum outcome will induce an abrupt slowdown in short-term GDP growth, as businesses defer investment and consider changes to the legal and regulatory environment," says the agency, lowering its outlook for GDP growth this year to 1.6% from 1.9%.
    • Moody's hasn't cut yet, but did lower its outlook to negative last Friday.
    • ETFs: FXB, EWU, GBB, EWUS, FKU, DXPS, DBUK, QGBR, HEWU
    | Mon, Jun. 27, 4:35 PM | 12 Comments
  • Mon, Jun. 27, 2:24 PM
    • "This outcome is a seminal event, and will lead to a less predictable, stable, and effective policy framework," says S&P, cutting the U.K. to AA from AAA. The outlook remains negative, meaning another cut could be in the offing.
    • Noted by the agency is the risk of a "marked deterioration" in external financing conditions, the role of sterling as a reserve currency, as well as the chance of "little England" - that is, an exit by Scotland and Northern Ireland from the U.K.
    • ETFs: FXB, EWU, GBB, EWUS, FKU, DXPS, DBUK, QGBR, HEWU
    | Mon, Jun. 27, 2:24 PM | 84 Comments
  • Mon, Jun. 20, 5:30 PM
    • An ORB poll has 53% of voters saying they will vote to "remain," and 46% "leave." A YouGov/Sunday Times polls puts the remain camp ahead 44% to 43%.
    • Last week both polls showed those wanting to exit the EU having the upper hand.
    • Meanwhile, Treasury Chancellor George Osborne, asked if he would consider shutting down the stock market in event of a post-Brexit selling panic on Friday morning (the vote is on Thursday), says he won't rule it out.
    • There's no word on whether the government is considering shutting down markets in event of a buying panic should the remain camp prevail.
    • ETFs: FXB, EWU, GBB, EWUS, FKU, DXPS, DBUK, QGBR, HEWU
    | Mon, Jun. 20, 5:30 PM | 8 Comments
  • Mon, Jun. 20, 7:21 AM
    | Mon, Jun. 20, 7:21 AM | 11 Comments
  • Thu, Jun. 16, 2:47 PM
    | Thu, Jun. 16, 2:47 PM | 2 Comments
  • Thu, Jun. 16, 7:23 AM
    • The Bank of England leaves its benchmark Bank Rate at 0.5% and its QE program dormant, noting recent volatility in markets ahead of the U.K referendum on EU membership.
    • Mark Carney and company once again take a stab at convincing folks to vote "Remain," noting a sharp fall in the pound, worsening terms of trade, lower productivity, and higher risk premia are assured if the country votes to leave the EU.
    • The pound is lower by 0.7% vs. the dollar at $1.4104.
    • ETFs: FXB, GBB
    | Thu, Jun. 16, 7:23 AM
  • Tue, Jun. 14, 11:33 AM
    • An online survey of 2,497 adults carried out over the last week by TNS found 47% in the "Leave" camp and 40% backing "Remain." It's the fifth poll to be be released in the last 24 hours, and the others showed leads of between one and seven points for the Leave camp.
    • The referendum date is Jun 23.
    • With PM David Cameron's busy efforts to convince voters to remain not making any headway, he's keeping a low profile this week to allow the opposition Labor party to make the case to its people.
    • Earlier today, Axa CEO Henri de Castries said there's an "extremely high probability of a Brexit," and warned neither the EU nor the U.K. is prepared for the negotiations that would follow. Other countries, he says, would be encouraged to seek special treatment by threatening their own exit.
    • Europe's (NYSEARCA:FEZ) at session lows, down 2.35%, and the pound has also carved out a new low, down 1.15% vs. the greenback at $1.4104.
    • ETFs: FXB, EWU, GBB, EWUS, FKU, DXPS, DBUK, QGBR, HEWU
    | Tue, Jun. 14, 11:33 AM | 19 Comments
  • Tue, Jun. 14, 7:42 AM
    • The Bank of England is offering the country's lenders extra liquidity to help them get through any volatility surrounding next week's Brexit vote. Banks today tapped the central bank for £2.46 of that cash.
    • While that amount at repo auctions isn't unusual (they're held every month), the BoE is offering an extra three auctions in June - two before the vote and one after.
    • The stock prices of British banks have been under heavy pressure ahead of the vote, and most are lower again today. In London trade: Barclays (NYSE:BCS-2.9%, RBS -1.7%, Lloyds (NYSE:LYG-1.9%, HSBC -1.15%.
    • The FTSE 100 is down 1.2%, and the pound (NYSEARCA:FXB) is off 1% vs. the dollar.
    • ETFs: FXB, EWU, GBB, EWUS, FKU, DXPS, DBUK, QGBR, HEWU
    | Tue, Jun. 14, 7:42 AM | 8 Comments
  • Fri, Jun. 10, 2:28 PM
    • Stocks sink to session lows after a new Brexit poll shows the "Leave" camp has opened up a surprising 10-point lead over the "Remain" camp ahead of the June 23 referendum.
    • S&P -1.1% at 2,091, Dow -0.9% at 17,824 and Nasdaq -1.4% at 4,886; the pound falls as low as $1.4180, its weakest level vs. the dollar in eight weeks.
    • A poll for The Independent of 2,000 people found that 55% believe the U.K. should leave the European Union, up four points since the newspaper's last poll in April, while 45% want it to stay.
    • Leave supporters also appears to be more motivated to vote, with 78% saying they definitely would vote while only 66% of Remain supporters say the same.
    • ETFs: SPY, SH, SSO, VOO, SDS, IVV, SPXU, UPRO, SPXL, RSP, SPXS, FXB, RWL, VFINX, EPS, EWU, GBB, SPLX, SFLA, SPUU, EWUS, FKU
    | Fri, Jun. 10, 2:28 PM | 36 Comments
  • Wed, Jun. 8, 8:17 AM
    • In the short-term there's market volatility as a risk, says S&P's Taron Wade, and in the medium-term, there's the risk uncertain companies could cut back on capital investment, something we're already seeing evidence of.
    • Over the long-term, the risk moves to uncertainty over regulation and trade barriers, she says.
    • It must a good day for the "Remain" camp as the pound (NYSEARCA:FXB) is higher by 0.25% to $1.4578. The FTSE is flat.
    • ETFs: FXB, EWU, GBB, EWUS, FKU, DXPS, DBUK, QGBR, HEWU
    | Wed, Jun. 8, 8:17 AM | 1 Comment
GBB Description
The GBP/USD exchange rate is a foreign exchange spot rate that measures the relative values of two currencies, the British pound and the U.S. dollar. When the British pound appreciates relative to the U.S. dollar, the GBP/USD exchange rate (and the value of the Securities) increases; when the British pound depreciates relative to the U.S. dollar, the GBP/USD exchange rate (and the value of the Securities) decreases. The GBP/USD exchange rate is expressed as a rate that reflects the number of U.S. dollars that can be exchanged for one British pound in the interbank market for settlement in two days. Effective December 18, 2008 the GBP/USD exchange rate will be the rate reported each day on Bloomberg screen GBPUSD WMCO Curncy <GO> at approximately 4:00 p.m., London time, or any successor page.
See more details on sponsor's website
Country: United Kingdom
ETF Hub
Find the right ETFs for your portfolio: Visit Seeking Alpha's ETF Hub