GBP/USD news for July 31, 2026
The Bank of England held interest rates at 3.75%, citing inflation fears and uncertainties from the US-Iran war, which has weighed on Britain’s economy. The British pound underperformed as traders pared back expectations for further rate hikes, and analysts noted limited policy support for the currency. These factors are keeping GBPUSD in focus amid broader dollar moves tied to intervention and geopolitical risks.
How the day unfolded
The Bank of England held interest rates at 3.75%, citing uncertainty from the US-Iran war and lingering inflation concerns. Meanwhile, the US dollar weakened after soft US growth data, but the pound still fell against the dollar as GBP plunged amid suspected yen intervention, which created volatility in currency markets.
The Bank of England held interest rates at 3.75%, citing inflation concerns and the economic impact of the Iran war. The British Pound also came under pressure amid suspected Yen intervention, while the US Dollar extended its sell-off following weak US growth data. These developments contributed to notable volatility in GBPUSD.
The Bank of England held interest rates at 3.75%, citing the need to wait for the impact of the US-Iran war and mounting inflation fears, which has implications for Sterling. Meanwhile, the US Dollar has been under pressure following weak US growth data and suspected intervention in the Yen, affecting the GBPUSD pair. These monetary policy and geopolitical factors are currently driving market sentiment for the currency pair.
The Bank of England left rates at 3.75%, citing the need to assess the impact of the US-Iran war, while inflation worries persist. This has led traders to scale back expectations for BoE hikes, with the Pound underperforming, and the dollar also softening amid intervention-related pressures.
Headlines (14)
- Bank of England holds interest rates at 3.75% as inflation fears mountwww.theguardian.com · Jul 30, 11:19 UTC
- Minutes of the Meeting of the Court of Directors held on 4 June 2026www.bankofengland.co.uk · Jul 30, 13:00 UTC
- US-Iran war looms over Britain’s economywww.politico.eu · Jul 30, 14:19 UTC
- BoE holds rates at 3.75% as it waits to see impact of Iran warwww.ft.com · Jul 30, 15:51 UTC
- Bank of England: Tighter conditions support September hold – TD Securitieswww.fxstreet.com · Jul 30, 16:22 UTC
- British Pound plunges amid suspected Yen interventionwww.fxstreet.com · Jul 30, 16:22 UTC
- BitMEX wipes out 35 derivatives as exchange shutdown approaches with punishing post-closure feescryptoslate.com · Jul 30, 18:47 UTC
- Forex Today: US Dollar extends sell-off after weak US growth, Yen surges on suspected interventionwww.fxstreet.com · Jul 30, 21:01 UTC
- US Dollar Index Price Forecast: Exposes to 99.00 on Double Top breakdownwww.fxstreet.com · 06:54 UTC
- Bank of England: Dovish hold shapes Pound outlook – UOBwww.fxstreet.com · 07:29 UTC
- The FX Trader: USD kicks off bear move as USDJPY intervention weighs.www.home.saxo · 07:46 UTC
- British Pound: Limited support from BoE policy – Commerzbankwww.fxstreet.com · 08:43 UTC
- British Pound underperforms as traders reconsider BoE interest rate hike betswww.fxstreet.com · 09:37 UTC
- BIS Project Agorá settles $1 million in tokenized cross-border payment trialscointelegraph.com · 11:09 UTC
Scheduled events
As of 22:35 UTC
- 2026-07-31 — Nationwide HPI m/m · forecast 0.1% · GBP
- 2026-07-31 — MPC Member Pill Speaks · GBP
- 2026-07-31 — Employment Cost Index q/q · forecast 0.8% · USD
- 2026-07-31 — Chicago PMI · forecast 55.9 · USD
- 2026-07-31 — Revised UoM Consumer Sentiment · forecast 53.9 · USD
- 2026-07-31 — Revised UoM Inflation Expectations · USD
- 2026-08-03 — Final Manufacturing PMI · forecast 52.8 · GBP
- 2026-08-03 — Final Manufacturing PMI · forecast 53.8 · USD
Not investment advice. For informational purposes only.