GBP/USD news for August 28, 2026

The British Pound is hovering near a weekly low below 1.3600 as the US Dollar firms on expectations of Federal Reserve rate hikes. Comments from Fed officials, including Chair Powell's warning that inflation progress is insufficient and hints at further tightening, have boosted bond yields and supported the greenback, weighing on GBPUSD.

Updated 21:05 UTC

How the day unfolded

1. 00:05 UTC

   GBPUSD is trading near its weekly low, below 1.3600, as the US dollar broadly strengthens. Market expectations for further Federal Reserve rate hikes, reinforced by sticky US PCE inflation data, are supporting the dollar and pressuring the pound. Higher US yields are also contributing to the dollar's momentum in the latest trading sessions.

2. 18:05 UTC

   The British Pound is trading near weekly lows below 1.3600 against a firmer US Dollar, as the greenback gains ground on expectations of further Federal Reserve rate hikes. These expectations have been reinforced by sticky US inflation data and hawkish Fed commentary, which are key drivers for the GBPUSD exchange rate.

Headlines (13)

• British Pound retreats as sticky PCE inflation keeps Fed hike bets alive
  www.fxstreet.com · Aug 26, 19:58 UTC
• investingLive Americas FX news wrap 26 Aug The USD is mostly higher with higher yields the catalyst
  investinglive.com · Aug 26, 20:45 UTC
• The British Pound stops dead where American data left it
  www.fxstreet.com · Aug 26, 23:42 UTC
• British Pound languishes near weekly low, below 1.3600 as USD bulls await Warsh's speech
  www.fxstreet.com · Aug 27, 04:26 UTC
• British Pound extends losses as US Dollar holds ground on Fed rate hike bets
  www.fxstreet.com · Aug 27, 08:09 UTC
• British Pound finds support near weekly low as fiscal woes and rate gap weigh on Yen
  www.fxstreet.com · Aug 27, 08:09 UTC
• US Dollar Edges Higher
  www.investing.com · Aug 27, 11:28 UTC
• Kickstart the NA session with a technical look at the EURUSD, USDJPY and GBPUSD: Key levels in play
  investinglive.com · Aug 27, 12:16 UTC
• Month-end fixing to be mildly supportive of the dollar - BofA
  investinglive.com · 04:35 UTC
• Bank of England likely to respond to high energy prices by end of the year
  www.ft.com · 06:49 UTC
• Warsh, In Our Time
  www.federalreserve.gov · 14:00 UTC
• US Fed chair warns inflation progress insufficient, hints at rate hikes
  www.aljazeera.com · 17:30 UTC
• U.S. Stocks Fall After Warsh Speech Boosts Bond Yields
  www.wsj.com · 20:44 UTC

Scheduled events

As of 21:05 UTC

• 2026-08-28 — FOMC Member Hammack Speaks · USD
• 2026-08-28 — Chicago PMI · forecast 57.9 · USD
• 2026-08-28 — Fed Chairman Warsh Speaks · USD
• 2026-08-28 — Prelim Benchmark Payrolls Revision · USD
• 2026-08-28 — Revised UoM Consumer Sentiment · forecast 51.0 · USD
• 2026-08-28 — Revised UoM Inflation Expectations · USD
• 2026-08-28 — MPC Member Mann Speaks · GBP
• 2026-08-31 — BRC Shop Price Index y/y · forecast 0.9% · GBP