GBP/USD nears 1.3500 as US midterms pressure dollar: Nov 4, 2026
The pound has moved toward 1.3500 and multi-week highs as the US dollar eased following US midterm election results, with headlines also pointing to Iran talks. Traders are now focused on the Bank of England rate decision, while upbeat UK manufacturing activity and soft German retail sales added context for sterling's moves.
Updated
This day is still open. Its readings are published once it closes. The live reading is on the GBP/USD page.
Headlines (12)
First seen on November 4
- British Pound rallies to September 16 highs as USD slumps on election resultsFXStreet
- British Pound nears 1.3500 against US Dollar amid Trump's defeat in US midtermsFXStreet
- GBP/USD at 7-Week High: Bank of England Takes Centre StageInvesting.com
Carried over from earlier days
- BoE set to raise rates to 4% in fight against inflationFinancial Times
- BOE Expected to Join Peers in Raising Key RateThe Wall Street Journal
- Bank of England set for first rate hike as energy shock worsensING Think
- Sterling today: Pound gains as dollar slips on Iran diplomacy betsInvesting.com
- British Pound retreats from two-week highs despite upbeat UK manufacturing activityFXStreet
- Pound reaches its highest since mid-September on Iran talksFXStreet
- Euro weakens against British Pound on soft German Retail Sales, traders await BoE rate decisionFXStreet
- Sterling today: Pound edges up as dollar eases, BoE hike in viewInvesting.com
- British Pound trades flat while US Midterm Elections take centre stageFXStreet
Scheduled events
As of
| Event | Forecast | Currency |
|---|---|---|
| Wednesday, November 4 | ||
| Final Services PMI | 53.1 | GBP |
| ADP Non-Farm Employment Change | 67K | USD |
| Trade Balance | -107.9B | USD |
| Final Services PMI | 57.9 | USD |
| ISM Services PMI | 54.8 | USD |
| Crude Oil Inventories | -1.7M | USD |
| Thursday, November 5 | ||
| Construction PMI | 46.4 | GBP |
| Challenger Job Cuts y/y | USD | |