# British Pound weakens to near 1.3400 ahead of US midterm elections

> The GBP/USD pair slipped to about 1.3405 in early Asian trading on Tuesday, snapping a four-day winning streak. Traders are positioning ahead of the US midterm elections, the Bank of England decision on Thursday, and US jobs data, with Democrats widely expected to take the House.

- Date: 2026-11-03 · published 2026-11-03T03:08:53.669Z
- Category: macro · region Global · magnitude low
- Page: https://feedsoft.ai/events/76888-british-pound-weakens-to-near-1-3400-ahead-of-us-midterm-elections
- 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 moves ahead of these events shift the dollar's value for US-priced commodities, and a stronger or weaker dollar changes export competitiveness for grain and meal. The effect on feed prices is indirect and modest.

## Read by commodity

- DXY: neutral
- GBPUSD: neutral

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| DXY | 2024-07-26 | [EUR/USD appreciates to near 1.0850 ahead of US PCE inflation — Octa](https://feedsoft.ai/events/29489-eur-usd-appreciates-to-near-1-0850-ahead-of-us-pce-inflation-octa.md) | +0.3% | -0.9% |
| 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 | 2018-07-31 | [British Pound US Dollar X-Rate Forecast Warning: No BoE Hike Would Crush GBP/USD To 1.28](https://feedsoft.ai/events/64275-british-pound-us-dollar-x-rate-forecast-warning-no-boe-hike-would-crush-gbp-usd.md) | +0.6% | +0.6% |
| DXY | 2017-03-27 | [Goldman Sachs: Weak British Pound Means Weaker Consumer, BoE Looks Through Inflation \| Exchange Rates UK](https://feedsoft.ai/events/72231-goldman-sachs-weak-british-pound-means-weaker-consumer-boe-looks-through.md) | +0.1% | +0.2% |
| DXY | 2016-11-04 | [Stocks slip on US election nerves; pound up on Brexit ruling - The HinduBusinessLine](https://feedsoft.ai/events/74077-stocks-slip-on-us-election-nerves-pound-up-on-brexit-ruling-the.md) | +1.9% | +2.9% |

## Sources

- fxstreet.com: https://www.fxstreet.com/news/british-pound-weakens-to-near-13400-ahead-of-us-midterm-elections-202611030128
- tmgm-asia.com: https://www.tmgm-asia.com/en-eu/analysis/market-news/article/british-pound-weakens-to-near-13400-ahead-of-us-midterm-elections-202611030128

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