Utilize the input text as a context reference, choose the right relationship between British empire and pound sterling from the options. Options: product/material produced, manufacturer, distributed by, industry, position held, original broadcaster, owned by, founded by, distribution format, headquarters location, stock exchange, currency, parent organization, chief executive officer, director/manager, owner of, operator, member of, employer, chairperson, platform, subsidiary, legal form, publisher, developer, brand, business division, location of formation, creator.

Yet London wasn't always king of forex: The hegemony of the pound sterling in the British empire meant that before 1914, London played second fiddle in forex to Paris, Vienna, Berlin and New York.

Answer: currency