Pound recovers after Fed hold as budget weighs: Oct 29, 2026
The pound defended the 1.3300 level as reviving US dollar demand weighed ahead of key US data and inflation figures. It later recovered after the Federal Reserve held rates amid a hawkish split, with markets parsing the FOMC statement and news conference. Attention also centred on the UK budget, after which sterling slid, extending a multi-day slide tied to the Fed decision and budget.
Updated
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Headlines (10)
First seen on October 29
Carried over from earlier days
- British Pound remains depressed vs USD ahead of UK Autumn Budget and FOMC on WednesdayFXStreet
- British Pound extends 4-day slide as Fed decision, UK budget loomFXStreet
- British Pound trims losses but remains below 1.3300 with all eyes on the UK budgetFXStreet
- Pound Sterling Slides in Wake of Budgetpoundsterlinglive.com
- Federal Reserve issues FOMC statementfederalreserve.gov
- British Pound recovers as Fed holds rates amid hawkish splitFXStreet
- The before and after. A look at the changes in forex, rates, stocks through the FOMC decision and press conference.InvestingLive
- Here are five key takeaways from the Fed rate decision and Warsh news conferenceCNBC
- US inflation figures are next for a Pound back above 1.33FXStreet
Scheduled events
As of
| Event | Forecast | Currency |
|---|---|---|
| Thursday, October 29 | ||
| Nationwide HPI m/m | GBP | |
| Net Lending to Individuals m/m | 6.2B | GBP |
| M4 Money Supply m/m | 0.3% | GBP |
| Mortgage Approvals | 54K | GBP |
| Advance GDP Price Index q/q | 3.2% | USD |
| Core PCE Price Index m/m | 0.3% | USD |
| Advance GDP q/q | 3.2% | USD |
| Personal Income m/m | 0.3% | USD |