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GREAT BRITAIN POUND/ SINGAPORE DOLLAR TRADING
The Great Britain Pound (GBP) and Singapore Dollar (SGD) is an exotic currency pair that is not traded as often as the majors but still gaining popularity. The GBP, known as “Cable” or “Sterling” is the 4th most traded currency in the world, and the SGD is the 12th most traded currency.
History of GBP SGD Trading
The Great British pound (GBP) is the 4th most traded currency in the forex market after the United States dollar, the Euro, and the Japanese yen. Along with those 3 currencies and the Chinese yuan, it forms the basket of currencies which calculate the value of IMF special drawings rights value. The British pound represents the oldest currency in continuous use. It is the official currency of the Sandwich Islands, the Guernsey, Jersey, British Antarctic Territory, the Isle of Man, Tristan da Cunha, and the Isle of Man United Kingdom.
The Singapore dollar (SGD) was first issued in 1965 after the breakdown of the monetary union between Malaysia and Brunei. Since the financial crisis in 2007, the SGD became one of the best-performing currencies. The Singapore dollar became a popular destination for offshore investors and is the 12th most traded currency worldwide, and the 3rd most in Asia.
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GBP/SGD Trading FAQs
What are the 3 worst times to trade GBP/SGD?
What are the 3 worst times to trade GBP/SGD?
While forex pairs can theoretically be traded 24 hours a day, there are the worst times to trade the GBP/SGD. Circumstances include immediately before or after high-impact news, the first and last day of the week, and when traders aren’t in the right mental state.
What affects GBP/SGD?
What affects GBP/SGD?
There are many factors that can affect currency pairs, including price inflation, monetary policy, confidence and sentiment, economic growth (GDP) and the balance of payments.
Where Can I Find a Trusted Forex Broker to Trade GBP/SGD?
Where Can I Find a Trusted
Forex Broker to Trade GBP/SGD?
As you may already know, trading via CFDs (contracts for difference) is one of the most popular approaches when dealing with currencies such as GBP and SGD. At the same time, there are numerous Forex brokers out there. Try to find one that suits your needs. Such as FP Markets, a fully regulated broker that offers all types of platforms and accounts, to suit every need.