Pound drops under 1.34 as hot US CPI lifts dollar: Nov 12, 2026
The pound dropped back below 1.34 and held near a one-week low around 1.3300 after a hotter-than-expected US October inflation report lifted yields and the dollar. Pressure came from rising Fed rate-hike bets, including comments from Fed's Waller on a larger hike, while hopes for Iran diplomacy briefly capped the dollar rally and traders also eyed upcoming UK GDP data.
Updated
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Headlines (8)
First seen on November 12
Carried over from earlier days
- British Pound turns upside down against USD as Fed’s Waller warns of bigger rate hikeFXStreet
- US stocks slide, yields jump, USD higher after hotter-than-expected October CPIInvestingLive
- Pound, Swiss franc, Aussie, Norwegian krone, Brazilian real fall at least 0.7%wallstreetcn.com
- Pound drops back under 1.34 after a hot US inflation reportFXStreet
- British Pound edges higher as hopes for Iran diplomacy cap hot US CPI-inspired USD rallyFXStreet
- British Pound hangs near one-week low, eyes 1.3300 as Fed hike bets lift USDFXStreet
- Sterling today: Pound edges lower as Fed hike bets, hot CPI buoy dollarInvesting.com
Scheduled events
As of
| Event | Forecast | Currency |
|---|---|---|
| Thursday, November 12 | ||
| RICS House Price Balance | -33% | GBP |
| GDP m/m | 0.0% | GBP |
| Manufacturing Production m/m | -0.5% | GBP |
| Prelim Business Investment q/q | 0.4% | GBP |
| Construction Output m/m | 0.0% | GBP |
| Industrial Production m/m | -0.4% | GBP |
| Goods Trade Balance | -19.2B | GBP |
| Index of Services 3m/3m | 0.9% | GBP |