# FOREX: Pound weakens against euro in run-up to UK rate decision

> The dollar index slipped to 101.60 from 102.06 as traders scaled back expected US rate hikes through mid-2027, though a December Fed hike is still priced in. The pound slipped against the euro to EUR1.1955 and edged higher against the dollar ahead of the Bank of England decision later in the week.

- Date: 2026-11-02 · published 2026-11-03T12:09:19.375Z
- Category: macro · region UK · magnitude low
- Page: https://feedsoft.ai/events/77547-forex-pound-weakens-against-euro-in-run-up-to-uk-rate-decision
- Commodities: [US Dollar (Broad)](https://feedsoft.ai/c/DXY.md)

## Why it matters

Shifts in rate expectations move currency values, which affect the cost of US dollar-priced feed commodities for non-US buyers. A weaker dollar generally supports US commodity export prices.

## Read by commodity

- DXY: bearish ▼

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| DXY | 2023-03-16 | [Euro rises, dollar falls after ECB rate decision](https://feedsoft.ai/events/10083-euro-rises-dollar-falls-after-ecb-rate-decision.md) | -1.2% | -2.5% |
| DXY | 2022-07-28 | [Pound Sterling Extends Gains against Euro and Dollar on post-Fed Relief](https://feedsoft.ai/events/40759-pound-sterling-extends-gains-against-euro-and-dollar-on-post-fed-relief.md) | -0.3% | +0.2% |
| DXY | 2020-08-30 | [Pound To Dollar Rate Forecast: Could A Dovish BoE Weigh On GBP/USD Rates This Week? \| Exchange Rates UK](https://feedsoft.ai/events/51866-pound-to-dollar-rate-forecast-could-a-dovish-boe-weigh-on-gbp-usd-rates-this.md) | +0.1% | +1.4% |
| DXY | 2019-10-31 | [Euro rises as dollar weakens on questions about more Fed rate cuts](https://feedsoft.ai/events/56782-euro-rises-as-dollar-weakens-on-questions-about-more-fed-rate-cuts.md) | -0.1% | +0.8% |
| DXY | 2019-10-31 | [Gold gains as dollar weakens after Fed's interest rate cut](https://feedsoft.ai/events/56483-gold-gains-as-dollar-weakens-after-fed-s-interest-rate-cut.md) | -0.1% | +0.8% |

## Sources

- global.morningstar.com: https://global.morningstar.com/en-gb/news/alliance-news/1793629708002389000/forex-pound-weakens-against-euro-in-run-up-to-uk-rate-decision

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