# Pound Sterling Price News and Forecast: GBP extends rally as Republicans lose both US Houses

> GBP/USD rose to about 1.3463 and near 1.3500 after Democrats won both US houses in the midterms, weighing on the dollar. Traders expect a Bank of England hike on Thursday.

- Date: 2026-11-04 · published 2026-11-04T18:09:43.454Z
- Category: macro · region Global · magnitude low
- Page: https://feedsoft.ai/events/80093-pound-sterling-price-news-and-forecast-gbp-extends-rally-as-republicans-lose
- Commodities: [British Pound (USD per GBP)](https://feedsoft.ai/c/GBPUSD.md), [US Dollar (Broad)](https://feedsoft.ai/c/DXY.md)

## Why it matters

A softer dollar tends to support US dollar-priced commodities, while the sterling move has little direct bearing on feed ingredient prices.

## Read by commodity

- DXY: bearish ▼
- GBPUSD: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| 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 | 2020-02-12 | [2020-2021 Exchange Rate Forecast: Pound Sterling And Dollar To Lose Ground This Year Say Commerzbank](https://feedsoft.ai/events/54834-2020-2021-exchange-rate-forecast-pound-sterling-and-dollar-to-lose-ground-this.md) | +0.4% | +1.6% |
| DXY | 2023-02-01 | [Gold price rallies, post-FOMC, as USDX, U.S. bond yields sink \| Kitco News](https://feedsoft.ai/events/37238-gold-price-rallies-post-fomc-as-usdx-u-s-bond-yields-sink-kitco-news.md) | +1.1% | +1.4% |
| DXY | 2025-09-29 | [South African Rand Forecast: USD/ZAR Continues Lower Amid Gold Rally and Soft Dollar - Forex News by FX Leaders](https://feedsoft.ai/events/23178-south-african-rand-forecast-usd-zar-continues-lower-amid-gold-rally-and-soft.md) | -0.3% | +0.3% |
| DXY | 2020-03-02 | [Euro Exchange Rate Reaches 5-Week-Best As Rivals Pound Sterling And Dollar See Large Losses \| Exchange Rates UK](https://feedsoft.ai/events/6188-euro-exchange-rate-reaches-5-week-best-as-rivals-pound-sterling-and-dollar-see.md) | -0.8% | +4.0% |

## Sources

- fxstreet.com: https://www.fxstreet.com/news/british-pound-extends-rally-as-republicans-lose-both-us-houses-202611041114
- fxstreet.com: https://www.fxstreet.com/news/pound-sterling-price-news-and-forecast-gbp-extends-rally-as-republicans-lose-both-us-houses-202611041212

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