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GBP/USD rose back to near 1.3400 at the start of the week as hopes for Iran diplomacy weakened the safe-haven US dollar. The pair is holding above its 100-day SMA ahead of the Bank of England decision on Wednesday, which is widely expected to be a 25 basis point hike.
Diplomatic hopes lower safe-haven demand for the dollar and support the pound on BoE tightening bets, which weakens the dollar against feed-importing currencies and can ease the cost of dollar-priced grain and meal imports for UK and European buyers.
fxstreet.comHaresh MenghaniNov 2, 2026Not enough comparable past events yet for a historical read.
After 1,637 past bearish macro events, US Dollar (Broad) moved a median -0.2% over 5 sessions (39% higher; middle half -0.6% to +0.3%), and -0.2% over 20.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.
