# British Pound nears 1.3500 against US Dollar amid Trump's defeat in US midterms

> The British Pound rallied about 0.5% against the US Dollar on Wednesday to seven-week highs above 1.3480. The Dollar fell broadly after early results showed Democrats winning control of the House and Senate in the US midterm elections.

- Date: 2026-11-04 · published 2026-11-04T09:09:14.445Z
- Category: macro · region Global · magnitude low
- Page: https://feedsoft.ai/events/79493-british-pound-nears-1-3500-against-us-dollar-amid-trump-s-defeat-in-us-midterms
- Commodities: [US Dollar (Broad)](https://feedsoft.ai/c/DXY.md), [British Pound (USD per GBP)](https://feedsoft.ai/c/GBPUSD.md)

## Why it matters

A weaker Dollar on fading fiscal-stimulus expectations and lower Treasury yields can support dollar-priced commodities, while a firmer Pound reflects expectations of a Bank of England rate hike. The direct effect on feed commodity prices is modest.

## Read by commodity

- DXY: bearish ▼
- GBPUSD: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| DXY | 2026-01-28 | [Pound Near $1.38 Amid Broad Dollar Weakness](https://feedsoft.ai/events/21304-pound-near-1-38-amid-broad-dollar-weakness.md) | +0.4% | +0.3% |
| DXY | 2024-08-23 | [Pound Rises to Strongest in Over Two Years Against the US Dollar - Bloomberg](https://feedsoft.ai/events/29067-pound-rises-to-strongest-in-over-two-years-against-the-us-dollar-bloomberg.md) | -0.1% | -0.8% |
| DXY | 2022-10-25 | [Pound surges against dollar after US house price shock](https://feedsoft.ai/events/39397-pound-surges-against-dollar-after-us-house-price-shock.md) | -0.3% | -3.0% |
| DXY | 2017-07-31 | [Pound hits 10-month high of $1.32 on dollar's Trump slump](https://feedsoft.ai/events/70203-pound-hits-10-month-high-of-1-32-on-dollar-s-trump-slump.md) | +0.3% | -0.5% |
| DXY | 2024-09-23 | [Bangkok Post - Baht at 19-month high against US dollar](https://feedsoft.ai/events/28597-bangkok-post-baht-at-19-month-high-against-us-dollar.md) | -0.2% | +2.5% |

## Sources

- fxstreet.com: https://www.fxstreet.com/news/british-pound-nears-13500-against-us-dollar-amid-trumps-defeat-in-us-midterms-202611040818

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