Pound holds near 1.34 as hot CPI fuels BoE hike bets: Oct 23, 2026
The pound is trading around 1.34, holding near its September 16 highs just below 1.3400-1.3410. Hot UK CPI data has fueled expectations for a Bank of England rate hike in November that headlines describe as already priced, with a hawkish BoE supporting sterling. That move has been limited as tensions around Iran boosted demand for the US dollar, leaving the pair consolidating.
Updated
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Headlines (8)
First seen on October 23
- Pound Benefits from a Hawkish BoEActionForex
- British Pound holds gains above 1.3400 as hot CPI data fuels BoE rate hike betsFXStreet
Carried over from earlier days
- British Pound remains broadly flat after hot UK CPI dataFXStreet
- GBP/USD Rejection at 1.3410 Shows the Limits of a Fully Priced BoE HikeInvesting.com
- The British Pound goes into retail sales with its November hike already pricedFXStreet
- British Pound consolidates near September 16 highs, just below 1.3400 vs subdued USDFXStreet
- The Bank of England just got its clearest reason to hike. Here's what it's really watchingFXStreet
- British Pound retreats from 1.34 as Iran tensions boost USD demandFXStreet
Scheduled events
As of
| Event | Forecast | Currency |
|---|---|---|
| Friday, October 23 | ||
| Retail Sales m/m | -0.1% | GBP |
| Flash Manufacturing PMI | 51.8 | GBP |
| Flash Services PMI | 51.8 | GBP |
| Flash Services PMI | 57.9 | USD |
| Flash Manufacturing PMI | 55.4 | USD |
| Revised UoM Inflation Expectations | USD | |
| Revised UoM Consumer Sentiment | 46.3 | USD |
| Treasury Currency Report | USD | |