Sterling steadies near 1.34 as hot CPI fuels BoE hike bets: Oct 24, 2026
The pound has held near one-month highs above 1.3400 after hot UK CPI data strengthened expectations for a Bank of England rate hike, with a hawkish BoE also cited as support. Mixed UK data, including downbeat retail sales and an upbeat flash PMI report, has provided added context, while heightened Iran tensions have boosted demand for the US dollar and pulled the pair back from 1.34.
Updated
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Headlines (8)
Carried over from earlier days
- British Pound: High-carry profile supports Sterling against Euro – INGFXStreet
- 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
- Pound Benefits from a Hawkish BoEActionForex
- British Pound holds gains above 1.3400 as hot CPI data fuels BoE rate hike betsFXStreet
- British Pound steadies near one-month highs despite downbeat UK Retail Sales dataFXStreet
- Euro hits fresh 17-month lows against British Pound after Eurozone, UK PMIsFXStreet
- British Pound underperforms despite upbeat UK flash PMI reportFXStreet
Scheduled events
As of
| Event | Forecast | Currency |
|---|---|---|
| Sunday, October 25 | ||
| Daylight Saving Time Shift | GBP | |
| Fed Monetary Policy Report | USD | |
| Monday, October 26 | ||
| CBI Realized Sales | -47 | GBP |
| Tuesday, October 27 | ||
| BRC Shop Price Index y/y | 1.6% | GBP |
| ADP Weekly Employment Change | USD | |
| Core Durable Goods Orders m/m | 0.6% | USD |
| Durable Goods Orders m/m | 1.8% | USD |
| S&P/CS Composite-20 HPI y/y | 2.7% | USD |