Loading…
GBP/USD rose to about 1.3485 in Asian trading on Thursday as the US dollar weakened after Democrats won majorities in both the Senate and House in the midterm elections. Markets were awaiting the Bank of England decision later that day, where a rate hike to 4% from 3.75% was widely expected.
A stronger pound against the dollar makes US-priced commodities relatively cheaper for UK and European buyers and reflects a weaker dollar, which tends to support dollar-denominated grain and oilseed prices. The BoE hike adds to tightening pressure on sterling-zone borrowing costs.
fxstreet.comLallalit SrijandornNov 5, 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.
