# British Pound US Dollar X-Rate Forecast Warning: No BoE Hike Would Crush GBP/USD To 1.28

> Foreign exchange markets were volatile as US tech stocks fell, with the Nasdaq losing more than 1%, and the dollar index weakened. ING sees a dovish hike or no hike at the Bank of England possibly pushing GBP/USD down to 1.28.

- Date: 2018-07-31 · published 2018-07-31T12:00:00.000Z
- Category: macro · region UK · magnitude low
- Page: https://feedsoft.ai/events/64275-british-pound-us-dollar-x-rate-forecast-warning-no-boe-hike-would-crush-gbp-usd
- Commodities: [British Pound (USD per GBP)](https://feedsoft.ai/c/GBPUSD.md), [US Dollar (Broad)](https://feedsoft.ai/c/DXY.md)

## Why it matters

Currency swings from tech selloffs and BoE policy shift the dollar value of UK and European import costs, with limited direct effect on feed commodity prices.

## Read by commodity

- DXY: neutral
- GBPUSD: neutral

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| DXY | 2019-03-06 | [Exchange & Interest Rate Forecasts For Euro, Dollar And Pound Sterling: ING](https://feedsoft.ai/events/60348-exchange-and-amp-interest-rate-forecasts-for-euro-dollar-and-pound-sterling-ing.md) | +0.1% | +0.3% |
| DXY | 2026-01-30 | [US Dollar Weekly Forecast: The Fed is seen reducing rates twice in 2026](https://feedsoft.ai/events/21241-us-dollar-weekly-forecast-the-fed-is-seen-reducing-rates-twice-in-2026.md) | +0.9% | +0.3% |
| DXY | 2019-01-28 | [Brexit Pound Analysis: British Pound Has Rallied 5% Vs Euro, Dollar But How Much Has GBP Discounted A No Deal Brexit? \| Exchange Rates UK](https://feedsoft.ai/events/61332-brexit-pound-analysis-british-pound-has-rallied-5-vs-euro-dollar-but-how-much.md) | -0.2% | +0.0% |
| DXY | 2026-10-01 | [British Pound edges higher to near 1.3250, renewed UK fiscal concerns in focus](https://feedsoft.ai/events/17743-british-pound-edges-higher-to-near-1-3250-renewed-uk-fiscal-concerns-in-focus.md) | +0.2% | +0.6% |
| DXY | 2016-11-03 | [Trump worries hit dollar; pound boosted by Brexit court ruling](https://feedsoft.ai/events/74075-trump-worries-hit-dollar-pound-boosted-by-brexit-court-ruling.md) | +0.7% | +3.0% |

## Sources

- exchangerates.org.uk: https://www.exchangerates.org.uk/news/22494/british-pound-us-dollar-xrate-forecast-warning-no-boe-hike-would-crush-gbpusd-to-128.html

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.